eBusiness Weekly
Business Writer
Listed manufacturing group Amalgamated Regional Trading (ART) expects to reduce overall energy needs, expenses, and consumption by 5 percent per year.
This comes as the availability of energy is becoming more and more problematic. Energy has an impact on profitability, productivity, production costs and equipment efficiency.
In its annual report for the fiscal year ending September 30, 2022, the company stated that it will continue to seek out new, environmentally friendly management techniques and energy sources.
“The group conducts monthly electricity readings and fuel consumption to ensure full control of energy bills with the goal to supplement third party supplied electricity with solar power up to 50 percent by 2024 financial year,” the group said.
There was a decline in energy consumption within the company during the period under review. Electricity consumption was down to 9 123 266 kwh in 2022 from 9 638 298 kwh in 2021.
The case was the same with diesel consumption, which depreciated by 40,91 percent to 191 373 litres in 2022.
In the same vein, petrol consumption fell by 23,21 percent to 7 831 litres.
Energy consumption outside the company also followed the same downward trend.
Fuel used for administration, employee transportation, product delivery, and waste collection by our paper-processing businesses, Kadoma Paper Mill and the National Waste Collections, accounts for the majority of the energy used outside the company.
Diesel consumption outside the company was off 38,82 percent to 142 080 litres.
Accordingly, petrol consumption outside the company went down by 28,09 percent to 140 394 litres.
“Diesel and petrol consumption decreased by 34 percent in 2022 compared to 2021 due to reduced activity and cost management measures.”
Recognising the economic, environmental and logistical challenges of running large-scale diesel generators for extended periods, the majority of companies are working on solar projects.
As of the financials, ART recorded a $1,5 billion inflation-adjusted after-tax profit for its financial year ended 30 September 2022. Upward fair value adjustments to investment properties of $1,6 billion and biological assets of $3,3 billion contributed significantly to the upturn in the group’s financial performance.
The group did not declare a dividend for the financial year.
