Furnmart records poor results

Furnmart at the Main mall. PIC KAGISO ONKATSWITSE
Furnmart at the Main mall. PIC KAGISO ONKATSWITSE

The recent annual report for credit furniture store Furnmart shows that the company performed poorly in the 2014 financial year.

This is despite the company’s year-on-year increase in revenue, which was recorded in the past four years.

 

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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