African expansion costs halve Choppies profit

Thursday, March 16, 2017

Choppies Enterprises’ profit slid in the second half of 2016, weighed down by the rising costs of its regional expansion drive and growing competition.

The retail giant posted a 47% drop in Profit After Tax (PAT) to P55 million in the six months ended December 2016.

On the other hand, the group’s total expenditure increased by 28.5% to P847.7 million in the six months ended December 2016 from P606.2 million in the same period the previous year.

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African expansion costs halve Choppies profit

Choppies Enterprises’ profit slid in the second half of 2016, weighed down by the rising costs of its regional expansion drive and growing competition.