Sefalana credits consumer division for profit growth

In a statement accompanying the results, the company said revenue growth for the period was largely in line with inflation, gross profit increased by a healthy nine percent while a 30 percent increase in net asset value was realised.

"This represents a very pleasing set of results, considering the challenges being faced on many fronts, especially cutbacks in government spending, continuing escalation of commodity prices fuelling price hikes over a broad range of goods and the lack of public service salary increases, which factors have all hampered consumer spending power," said the BSE-listed company.