Choppies' profit up by 24%

Choppies, which recently listed on the BSE, registered a 15 percent rise in operating profit to P86 million while net profit after tax increased by 24 percent to P63 million.

During the period under review, the supermarket chain opened two new stores in Botswana and one in South Africa. According to a statement accompanying the results, "the company plans to open four new stores in Botswana within the next six months and five new stores in South Africa within the same length of time."  The retail group raised P350 million in both the  Initial Public Offer (IPO) and the private placement prior to its listing on the local bourse two months ago.