Art hedges against uncertainty

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AMALGAMATED Regional Trading Holdings (Art) says it will focus on value preservation, de-risking and actively managing its businesses across the formal, informal and export markets in light of the operating environment, which is expected to remain complex.
In a statement accompanying the group’s financials for the year ended September 30, 2023, Art’s chairman, Thomas Wushe, said the operating environment is expected to be characterised by foreign exchange rate volatility and inflationary pressures.
“Export sales present a natural hedge in the face of uncertain local currency volatility and changing policies,” Wushe said.
Art’s revenue for the year improved by seven percent to US$47 million, with the group’s divisions able to sell predominantly in hard currency. The group’s brands continue to be resilient despite increased competition from imports,” he said.