Companies / Kenya
Uchumi On The Road To Recovery
May 2008 | Company News AlertLeading Kenyan retailer Uchumi has reported profits of KES113mn (US$1.7mn) for the first nine months of its financial year ending in March 2008. Net sales were up to KES5.2bn (US$77.5mn) for the same period, up from KES3.5bn (US$51.6mn) in the same period last year. This comes as welcome news for the company, which was on the brink of bankruptcy in June 2006. The company also announced that it has paid back 75% of the debt, which had brought it close to collapse. This recovery is all the more impressive when one considers the difficult climate in which Uchumi has been
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