Uchumi records 12 pc rise in end-year profits
04 September 2013, 14:59
Uchumi Supermarket has recorded a 12 percent increase in profit for the year ended June 30, 2013.
Speaking on Wednesday, Uchumi CEO Jonathan Ciano said the retail chain’s profit before tax rose to KES 486 Million in 2013 up from KES 406 Million recorded in 2012.
Earnings per share increased by 31 percent form KES 1.03 per share to KES 1.35.
The CEO attributed the remarkable growth to the successful implementation of growth strategies supported by efficient cost management.
“Our results for 2013 are a significant improvement over 2012 on all key measures, with remarkable growth in profitability, sales revenues and customer numbers,” Said Dr. Ciano.
He however said that inflation caused by the increasing cost of global fuel prices led to increase in operational cost for the group.
“Uchumi has delivered results that are very much in line with our expectations at an operating level. The group has managed the business well in particularly challenging times," he noted.
The group’s sales revenue grew by 3.2 percent to KES 14.369 billion as annual customers increased by 10% to 24 million.
The group’s total assets also grew by 12.8% to KES 5.5 Billion as on June 2013.
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