Furnmart profits weaken on closure of Zambian operations

Wednesday, April 26, 2017

Furnmart closed its Zambian operations last year

Household furniture and appliances retailer, Furnmart reported a decrease in gross profit margins during the last six months due to strong competition in the region as well as the closure of their Zambian operations.

The Botswana Stock Exchange-listed company said trading across its operations has been subdued during the six months to end of January 2017.

It said the decrease in gross profit margins was mainly due to the winding down of its Zambian operations.

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