Monday, April 22, 2024

Sefalana profits keeps soaring

The diversified wholesale and retail giant Sefalana Group has upped its profit again in the 27 week period ended 30 October 2022. On Friday, the company presented its financial statements reflecting a 20 percent growth in revenue as well as a 28 percent Profit before Tax for the period under review. 

The strong performance carries from the last two year, an unprecedented period where the Covid 19 pandemic and the cost of living crisis caused by the European war caused damaged to many businesses’ operations. The latest financials shows that Sefalana has been defiant against the doldrums posting stellar results for the six months ended October 2022. The group generated a profit before tax of P195 million while its net asset position grew from P2 billion by April 2022 to P2,2 billion at the end of October 2022. 

The group says its Botswana businesses had been adversely affected for much of the last two years by the trading restrictions that had been in place as a result of the Covid 19 pandemic. 

“These restrictions have largely been lifted and consequently there has been a solid recovery of performance by the FMCG segment”, reads part of the notes accompanying the group financials presented to financial journalists and analysts in the capital Gaborone on Friday. 

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 (20 stores), Lesotho (4), 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. 

Meanwhile the board has since declared that a final gross dividend of 12 thebe per ordinary share. 

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