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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
Human rights are sacred

It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...

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