Choppies expects higher profits

Better days: Choppies has narrowed its footprint in Africa and is forecasting higher profits
Better days: Choppies has narrowed its footprint in Africa and is forecasting higher profits

Homegrown retail chain, Choppies Enterprises, expects its pretax profits for the half year ended December 31, 2021 to be as much as 56% higher than the previous year, in terms of continuing operations.

In a notice to investors this week, directors said this percentage translates to pretax profits of as much as P139 million for the half year to December 2021, compared to P88 million for the previous corresponding period.

After-tax profits for both continuing and discontinued operations could be as much as 194% higher translating to as much as P112 million in after tax profit for the period. During the financial year 2020, Choppies decided to discontinue its operations in Kenya, Tanzania, Mozambique and South Africa.

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