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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
Tana project a welcome development

Whilst the project received mixed reactions from members of the public, the project is indeed a welcome development, which needs to be implemented as soon as possible. Many shared their opinion, with those against the project decrying that if implemented, it will kill the already struggling public transport industry.Many countries around the world have state-run public transport, and those who have travelled to such countries will give testimony...

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