AMALGAMATED Regional Trading Holdings (Art) says it remains wary of the risk posed by short-term borrowings and is working to refinance these with suitable facilities.
In a trading update for the first quarter that ended December 31, 2022, the diversified group’s secretary, Abisai Chingwecha, said the elimination of local currency borrowings in December helped to ease pressure on operations.
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“The group will continue to focus on value preservation, cost containment and operational efficiencies,” Chingwecha said.
During the quarter, Art’s overall volumes declined by three percent, while export volumes fell by 17 percent as orders could not be met in De
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