Retail, property lift Sefalana

Diversified retail and property group- Sefalana Holdings has warmed shareholders with good news that results for full year has improved significantly. The Botswana Stock Exchange (BSE) listed company revealed that its property and consumer goods divisions will lead financial performance for the year ended April 2012. The company’s property portfolio is valued at more than P 120 Million, according to information obtained fro BSE website on Wednesday.  Sefalana’s property portfolio operates through 8 property owning companies within the Group with the majority of the commercial properties held by Meybeernick Investments (Pty) Limited. The company, which acquired assets of Sefcash, which delisted in 2010, has been busy expanding their retail divisions through the opening of retail units under the Shoppers banner.  It is highly likely that this expansion has boosted the 26 old company’s performance. In recent times, the group opened seven new Shoppers stores - two in Maun, two in Mahalapye, one each in Tsabong, Kanye and at Gaborone Station. The company, which is headed by old hand Chandra Chauhan, did not state how much the said divisions would contribute to overall performance. However, for the year ending April 2011, total income for the group leapt to P118, 9 million from P78, 9 million recorded in the prior year. According to company secretary Venkitachalan Iye, earnings per share attributable to shareholders would also improve. Sefalana will be publishing the audited results at the end of July. Despite the good news from the company, its shares remained stubborn, it traded at 280 thebe per share when markets closed on Wednesday.