RE: ?26 Apr 2022 08:14
The challenging logistics chain has resulted in a marginal inventory build-up of 25 mtV (Q4 2021: 278 mtV), with finished products cumulative inventory of 850 mtV (Q4 2021: 825 mtV), throughout the logistics chain (stock at site, transit to Port, sea-borne and in-country warehouses).
- Post quarter end, t he recent disastrous floods in Kwa-Zulu Natal, South Africa have severely affected operations at the Port of Durban with shipments being delayed by between 14 and 21 days. To mitigate this, Bushveld is in the process of diverting exports through alternative South African ports, including Cape Town. The current elevated stock levels throughout the logistics chain are cushioning the negative effects this natural disaster may have on Group sales.
§ Unaudited cash and cash equivalents of US$12.7 million as at 31 March 2022 (31 December 2021 : US$15 million). Positive cash generation from operations impacted by, among others, capital expenditure, loan repayments and increasing working capital requirements.