Sefalana expects profits to soar beyond P100m

Sefalana expects to cross P100 million in profits
Sefalana expects to cross P100 million in profits

Homegrown diversified manufacturing and retail giant, Sefalana Group expects pre-tax profits of between P96 million and P104 million when it unveils its interim results at the end of the month, BusinessWeek has learnt.

The group whose retail wing, Sefalana Cash and Carry is growing rapidly in Lesotho, Namibia and South Africa, announced record high revenues and profits for the year ended April 30, 2018 of P4.8 billion and P231.7 million respectively. The group recently announced that its performance for the six months from the bumper profits to October 2018, would equally be strong.

“The board of Sefalana is pleased to announce that Sefalana’s group profit before tax for the six month period that ended October 31, 2018 will be between 15% - 25% higher than that reported for the comparative period ended October 31, 2017 which amounted to P83.1 million,” the group’s finance director, Mohamed Osman said in a Botswana Stock Exchange (BSE) announcement to investors.

Editor's Comment
Keep your mask close

Wearing of masks behind closed doors has been mandatory following the government’s August decision that the public was freed from masking in outdoor spaces.According to a press statement from the ministry, all other remaining COVID-19 protocols such as social distancing in schools and requirements for vaccination or PCR tests at ports of entry have also been relaxed.Statistics still show that hundreds still die daily due to the pandemic around...

Have a Story? Send Us a tip
arrow up