TURNALL Holdings has appointed long-serving non-executive director Kenneth Schofield as the new chairperson of its board following the resignation of Grenville Hampshire.
The company said Hampshire stepped down from the role on March 2, 2026, after playing a key role in stabilising the business during a difficult financial period.
In a notice to shareholders, Turnall said Hampshire’s leadership had been instrumental in helping the company recover from years of losses.
“Grenville’s strategic leadership and sterling commitment contributed immensely to the stabilisation, growth and success of the company over the past years,” the company said. “He took over as chairperson when the business was making losses, and he managed to steer and stabilise it to return to profitability.”
Schofield, who joined the Turnall board in June 2023 as an independent non-executive director, brings more than 25 years of experience in the manufacturing sector both in Zimbabwe and across the region. He has previously chaired several manufacturing companies, including Radar Holdings Limited, Border Timbers Limited and GRUPO Madal S.A.R.L.
He also serves on the board of the Zimbabwe Investment Development Agency (ZIDA), where he contributes to efforts to promote foreign and domestic investment in Zimbabwe’s economy.
Turnall said it looked forward to continued growth under Schofield’s leadership.
The board changes come as the construction materials manufacturer shows signs of financial recovery following years of losses.
In its third quarter trading update for the period ended September 30, 2025, the company reported a profit after tax of US$92,091 for the quarter, marking a return to profitability. On a year-to-date basis, the group reduced its loss after tax by 91%.
Turnall recorded quarterly revenue of US$3.3 million, slightly lower than the previous year, despite a 7% increase in sales volumes to 9,150 tonnes. The company attributed the revenue decline to a product mix skewed toward higher-tonnage but lower-value products.
Gross profit margins for the nine months improved to 26%, up from 19% in the prior year, reflecting production efficiencies and cost-containment measures.
Cash generation also improved significantly, with the group generating US$809 101 from operating activities for the nine months to September, reversing a cash outflow recorded during the same period last year.
Turnall, which manufactures fibre-cement roofing, concrete and piping products from its plants in Harare and Bulawayo, is targeting a break-even operating profit position in its current fiscal year after posting a US$3.2 million operating loss in the previous reporting period.