Kenya: Uchumi Records Profits

9 September 2011

Uchumi Supermarkets has posted a 19% rise in full-year pretax profit. This has been attributed to effective cost management and higher sales revenue even in a high inflation climate.

Uchumi says profit is up to 515 million shillings on total net sales in the year to end-June. However the earnings per share fell to 1.47 shillings from 4.81 shillings in the previous year, after it increased the number of issued shares by 85 million to 265 million following a conversion of some of its debt into equity.

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