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Furnmart cautious as profits take 50% dip

Furnmart PIC: PHATSIMO KAPENG
Furnmart PIC: PHATSIMO KAPENG

Botswana Stock Exchange listed Furnmart’s profit after tax as dropped by 50.6% from P130 million to P64.6 million for the year ended March 31, 2022.

The group bemoaned the harsh trading environment noting that their sales growth measured against the high comparable base of the prior year has been sluggish.

Commenting on the results, Tobias Mynhardt said sales growth recorded in the prior year was strong, after the lifting of the hard lockdown periods. “Gross profit margins remain under pressure and have declined compared to the prior period.

Editor's Comment
Let justice, not politics determine Salakae’s fate

“Justice should not only be done, but should manifestly and undoubtedly be seen to be done.”-Lord HewartHis decision was the correct one.The move neither proves guilt nor settles the serious allegations that have brought him to the doorstep of the Regional Magistrate’s Court.It does, however, recognise a basic principle of accountable government, that a minister facing criminal charges should not remain in a position that could create even...

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