NTS leverages on new import regulation

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NATIONAL Tyre Services Limited (NTS) will leverage its business on a new import regulation, which suspends duty on commercial tyres, the company has said.
This comes after the tyre dealer’s sales for the half-year to September 30, 2022 grew by 12 percent to $1,8 billion in inflation adjusted terms from $1,6 billion, due to the implementation of the turnaround strategy the firm adopted two years ago.

“NTS will leverage on the new import regulations on suspension of duty on commercial tyres and payment of duty in foreign currency to gain market share. The company is capitalising on the current farming season demand for tyres and tubes to grow sales,” NTS chairman James Moyo said in a statement accompanying the company’s financial results.