Mynhardts taste first fruits after Furnmart delisting

Friday, February 21, 2020

Thriving: Furnmart's founding family are reaping the rewards of going private PIC:PHATSIMO KAPENG

Furnmart Limited, the retail giant with 139 stores in the region, is due to deliver its first dividends after it exited the Botswana Stock Exchange last March, BusinessWeek has established.

After 21 years on the local exchange, Furnmart delisted and went back into the hands of founders, the Mynhardt family, who controlled approximately 92% of the group after the BSE exit.

According to the group’s Annual Report released this week, Furnmart posted pretax profits of P161.3 million for the year ended July 31, 2019, compared with P140.3 million the previous corresponding period.

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Mynhardts taste first fruits after Furnmart delisting

Furnmart Limited, the retail giant with 139 stores in the region, is due to deliver its first dividends after it exited the Botswana Stock Exchange last March, BusinessWeek has established.