Choppies profits halve on expansion costs
Thursday, September 22, 2016
The local retail giant recorded a 48% decline in PAT to P104.9 million for the financial results for the year ended in June this year compared to P197.2 million recorded in the prior year.
Choppies CEO, Ramachandran Ottapathu attributed the loss to the group’s operating margins, which were negatively impacted by the costs of establishing new geographical locations, opening new stores and distribution centres.
March 28 will go down as a day that Batswana will never forget because of the accident that occurred near Mmamatlakala in Limpopo, South Africa. The tragedy affected not only the grieving families but the nation at large. Batswana throughout the process stood behind the grieving families and the governments of Botswana and South Africa need much more than a pat on the back.Last Saturday was a day when family members said their last goodbyes to...