The diversified retail giant Sefalana Group has upped its profit again in the pandemic defying performance.
On Monday, the company said profit before tax for the year ended April 2021 will be between 10 percent and 12 percent, roughly adding from P26 million to P31 million, to the P259 million profit reported for April 2020.
The strong performance carries from last year, an unprecedented period where the coronavirus caused damaged to many businesses’ operations. However, Sefalana has been defiant against the doldrums of the pandemic, posting stellar results for the six months ended October 2020, raking in P148.3 million in profit after tax, up 23 percent from the comparable period in 2019.
Sefalana Group also put on a pleasant surprise in the year that ended April 2020, with revenue up by ten percent to P5.8 billion, while profit before tax came at P258.8 million, slightly above 2019’s P256.7 million, which the retailer said it was their best showing.
The Botswana Stock Exchange listed group’s business interests spans fast moving consumer goods (FMCG), commercial motors, manufacturing, properties, and government contracts. The group has been anchored by the FMCG business which remained resilient despite challenges.
The Botswana based company also has operations in Namibia, Lesotho, South Africa, Zambia and most recently Australia. In Botswana, Sefalana operates 58 stores: 4 hyper stores and 25 Cash and Carry stores, both mainly targeting resellers and bulk buyers. It also has 29 retail stores under its Shoppers brand. The Botswana operations are responsible for 51 percent of the group’s profits.