- Aluminium manufacturer Capral (CAA) says all of its manufacturing and distribution facilities continue to operate amid the COVID-19 pandemic
- The company has put in measures to ensure the well-being of employees and communities
- Capral said the weaker Australian dollar is making local manufactures much more competitive against imports
- The company said at this time operating volumes are in line with forecasts, however, it is too early to predict the extent of the flow-on impact
- At market close, Capral is up 11.3 per cent and is trading at 8.9 cents per share
Aluminium manufacturer Capral (CAA) says all of its manufacturing and distribution facilities continue to operate amid the COVID-19 pandemic.
Capral is Australia’s largest extruder and distributor of aluminium products.
The company has put in measures to ensure the well-being of employees and communities including strict protocols for hygiene, rules for employees returning from travel, stopping business air travel and restrictions on visitors to sites.
Employees of the company are working from home where practical
Capral said at this time operating volumes are in line with company expectations, but it’s too early to predict the extent of the flow-on impact to the economy and to the business.
Silver linings
While it is hard to find positives in the current situation, there are a number of factors that Capral believes is assisting the business.
It says the weaker Australian dollar is making local manufactures much more competitive against imports. Further, recent tech upgrades and investments mean the company is saving on costs.
As for its earnings guidance, however, Capral has not made any decisions just yet.
“Due to the ever-changing circumstances we find ourselves in, Capral is not in a position to provide an update on guidance at this time,” the company told the market.
However, it will update guidance as events develop and at the annual general meeting on April 29 2020.
At market close, Capral is up 11.3 per cent and is trading at 8.9 cents per share.