The Monitor :: Choppies Expand Their Footprint
Banners
Banners
Banners
Banners
Last Updated
Thursday 20 September 2018, 12:14 pm.
Banners
Choppies Expand Their Footprint

Local retail giant, Choppies have expanded their footprint by opening 33 new stores, hence raising the total number to 235, according to the Group's financial result for the six months ended December 31, 2017.
By Staff Writer Mon 30 Apr 2018, 12:58 pm (GMT +2)
The Monitor :: Choppies Expand Their Footprint








This includes the Mozambique and Namibian stores where Choppies just joined their respective markets.

Commenting on the results, Choppies Managing Director Ramachandran Ottapathu said that the opening of the stores was in line with a strategies adopted by their Board, noting that though the performance has improved in other regions, they are yet to achieve profitability.

“The opening of new stores and distribution centres in other regions is in accordance with strategies adopted by the Board. In six months’ period, three stores were added in Zambia,” he said.

Last year, Choppies continued to grow their presence in neighbouring South Africa with the acquisition of eight Arizona Wholesales and Butcheries in November , consequently raising the number of stores to in South Africa to 88. In Botswana Choppies have 85 stores, Zimbabwe 11, Zambia 15, Kenya 11, Tanzania 2, and one each in Namibia and Mozambique.

Ottapathu last year mentioned that the group’s capital

Banners

expenditure budget for the year to June 2018 is at P300 million sharing their plans of adding 40 new stores across the region noting that the bulk of the new ones would be opened in South Africa (13), Zambia (8), Kenya (4), Tanzania (3), Mozambique (3), Zimbabwe (2) and Namibia (3).

Further, the group recorded P19 million increases in their profit before tax, recording P92.8 million compared to P73.2 million in the previous year.

“Botswana contributed 40% to the Group’s revenue. Despite the subdued economic environment in the country, we maintained our market share and continued to improve our efficiencies,” he said.

He said that the improvement in South Africa’s North West province resulted in revenue growth of 43%, noting that the growth brought profitability to their operations in that region. In addition he noted that the Zimbabwe operations continue to perform better in spite of depressed economic conditions.

Subscribe to our Newsletter
Banners
Banners
Banners


Business
Mon 30 Apr 2018, 18:00 pm
Mon 30 Apr 2018, 13:01 pm
Mon 30 Apr 2018, 13:00 pm
Mon 30 Apr 2018, 12:58 pm
Mon 30 Apr 2018, 12:55 pm
Mon 23 Apr 2018, 18:00 pm
Mon 23 Apr 2018, 14:43 pm
Mon 23 Apr 2018, 14:43 pm
Mon 16 Apr 2018, 18:00 pm
Mon 16 Apr 2018, 12:46 pm
Mon 16 Apr 2018, 12:43 pm
Mon 09 Apr 2018, 16:21 pm
Mon 09 Apr 2018, 16:08 pm
Mon 09 Apr 2018, 15:43 pm
Mon 26 Mar 2018, 18:00 pm
Mon 26 Mar 2018, 13:37 pm
Mon 26 Mar 2018, 13:37 pm
Mon 19 Mar 2018, 18:00 pm
Mon 19 Mar 2018, 13:07 pm
Mon 19 Mar 2018, 13:05 pm
Mon 12 Mar 2018, 18:22 pm
Mon 12 Mar 2018, 18:18 pm
Mon 12 Mar 2018, 18:18 pm
Mon 12 Mar 2018, 18:13 pm
Mon 05 Mar 2018, 17:57 pm
Banners
Banners
Exchange Rates
FOREIGN EXCHANGE: Wednesday, 17 Jan 2018
FOREIGN / PULA
PULA / FOREIGN
1 USD = Pula   9.7656
1 GBP = Pula   13.4590
1 EUR = Pula   11.9617
1 YEN = Pula   0.0882
1 ZAR = Pula   0.7938
1 Pula = USD   0.1024
1 Pula = GBP   0.0743
1 Pula = EUR   0.0836
1 Pula = YEN   11.34
1 Pula = ZAR   1.2597
Subscribe to our Newsletter
have a story? Send us a Tip
Banners
  • Previous
    Next
    Masa Centre
    ::: Friday 21 Sep - Friday 21 Sep :::
  • Previous
    Next
    Riverwalk
    ::: Friday 21 Sep - Friday 21 Sep :::
  • Previous
    The Meg
    Next
    Gamecity
    ::: Friday 10 Aug - Sunday 07 Aug :::
    The Meg
Selefu
Maruping go a boelwa.
Banners
Banners
istanbul escort