Brick manufacturer Willdale has reported a 5% decline in sales for the June quarter, citing a combination of low capital, rising competition, and frequent power cuts as key factors impacting production.
Despite these setbacks, the company remains optimistic about future growth. A surge in housing development projects across urban areas is seen as a significant opportunity to boost both production and revenue in the remaining months of the year. However, the company acknowledged that competition in the sector continues to be intense.
In a move to strengthen its financial position, Willdale announced in March its plan to sell 178 hectares of idle land. The proceeds from this sale are intended to fund the construction of a new plant, which is expected to enhance the company’s production capacity and competitive edge.
