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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
Consult, get buy-ins first for 6 to 6 policy, Hon Minister

While the minister is of the view that the proposal would have significant positive economic impact, the entertainment industry players believe otherwise. The issue has over the weeks become a hot potato. But what is of essence right now is that the country needs liberal ideas to move in the right direction While opening up the economy may sound quite interesting to the ear, rolling out extended trading hours through pilot programmes without...

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