POWERSPEED Electrical (Powerspeed) says the rising global cost of freight is piling pressure on the business and trimming profit margins.
The rising freight costs, which hugely disrupted the electricals manufacturer and distributor’s supply chains owing to the global Covid-19 pandemic-induced lockdowns, forced Powerspeed to ramp up local manufacturing.
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Powerspeed successfully delisted from the Zimbabwe Stock Exchange on December 14, 2020.
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