P232 million profit for Botswana retail & wholesale giant

Published On: August 7, 2018Company: Sefalana Holding Company Limited (SEFALA.bw)

2017 was a difficult trading year for most companies. However, Sefalana  managed to emerged from that difficult period with a whopping 34% increase in profits in year ended 30 April 2018 compared to the same period in 2017. This is in comparison to the prior year which ended 30th April 2017, a year which the […]

2017 was a difficult trading year for most companies. However, Sefalana  managed to emerged from that difficult period with a whopping 34% increase in profits in year ended 30 April 2018 compared to the same period in 2017.

This is in comparison to the prior year which ended 30th April 2017, a year which the Group operations faced one of the most difficult trading circumstances in years, especially in its major market, Botswana. This was predominately because of the effects of 2016 closure of some major mining companies and parastatals, which spilled over into 2017 and shrunk macroeconomic cash flows as well as domestic purchasing power.

For the year under review, the Botswana Stock Exchange(BSE) listed  diversified  goods and commodities conglomerate put in place several cost saving initiatives in a bid to extract value from the company‘s well diversified group of businesses across the Region. Sefalana Operates in Botswana, Namibia, and Lesotho and of late entered the lucrative South African market and the Zambian property space.

According to the company’s audited financials released this week several customer services nectarines such as online shopping beard fruits as the Group registered a total comprehensive income of P189.1 million representing a 21 percent increase on the prior year.
The Group‘s revenue hit P4.8 billion mirroring a satisfactory rise of 12 percent compared to the prior year.

“We are pleased to report that through this approach, we have been able to close this year on a very positive note. We are confident that our shareholders and potential investors will be pleased with our performance and will be enthused with the forward-looking prospects of our business,” said Chandra Chauhan, Sefalana Group Managing Director this week when addressing stakeholders on the Group performance. One of Sefalana‘s key market is Botswana. The company was conceived in Botswana in the early years of Botswana‘s economic development epoch.

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Read complete article: The Weekend Post

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