Sefalana year end results up

 

Diversified group, Sefalana is expecting improved profits for the year to April 2018, beating retail industry current odds which include sluggish economy growth and reduced consumer confidence.

The company, which is headed by Chandra Chauhan, said in a stock market filing this week that, the group’s net income for the past year will be significantly higher than that reported in the previous  year(H2: 2017). The owners of Sefalana Hyper and Shoppers brands have not stated underlying reasons for the group’s growth in  net income, safe to say the results will be out by the end of July 2018. For the year to April 2017, the company reported a profit of P128, 3 million, down from P157, 5 million the year before.

In the past year, the company has been expanding its presence across Botswana. It also concluded its entry into South Africa, the continent’s second biggest economy. On other matters, the Managing Director of its biggest revenue contributor, Hans Kampmann resigned from the group for undisclosed reasons.

He has been with the group for the past 19 years. According to a statement from the BSE website Sefalana owns 100 percent of Sefcash (Sefalana Cash and Carry), a leading wholesaler and retailer of fast moving consumer goods. The Sefcash store complement consists of 19 retail supermarkets under the name “Sefalana Shopper”, 3 convenience stores under the name “Sefalana Quick”, 25 cash & carry outlets trading under the name “Sefalana Cash & Carry”, 3 Hyper Stores located in Gaborone, Francistown and Mahalaype, trading as “Sefalana Hyper”, 4 liquor stores, trading as “Sefalana Liquor” and 1 cigarette distribution outlet trading under the name, Capital Tobacco. In addition, the company has just under 400 voluntary retail franchise members located throughout Botswana who trade under the names Supa 7, Supa Deal, Citi Saver, Bonanza, Pula  Value and Triple Seven Liquor.