Economic pressures weigh on Choppies profits

Ottapathu
Ottapathu

Choppies Enterprises’ performance for the six months ended December 31, 2015 was a mixed bag, with a revenue growth amid challenging macroeconomic conditions. The revenue growth did not translate into robust profit growth for the giant retailer as start-up costs, aggressive pricing and promotions strategy in new stores ate into profitability.

The group’s revenue grew by 17 percent to P3.5 billion from P3 billion achieved in the same period in the previous year.

Gross profit was up by 11 percent to P714 million as compared to P644 million while earnings before interest, taxes, depreciation, and amortisation (EBITDA) were up by five percent to P216 million.

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Mabogo dinku a thebana

According to both the acting director of Veterinary Services, Kobedi Segale and acting Lands and Agriculture minister, Edwin Dikoloti, the virus currently raging through the North-East mostly likely first entered the country during the festive season.From the “unprecedented” number of cases picked in testing last week, it is likely that cattle and other livestock could have been infected last year, without being reported.Animal health...

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