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Innscor's Simbisa Brands Reports 23% Profit Drop to 3 Million

7 years agoWed, 28 Sep 2016 11:46:48 GMT
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Innscor's Simbisa Brands Reports 23% Profit Drop to 3 Million

Innscor’s Simbisa Brands this week announced an after tax profit at $3 million which represents 23% drop for the nine months to June 30 2016 compared to $3,9 million in the prior period last year. It’s regional operations performed below expectations.

Simbisa is a separately listed unit of Innscor Africa Limited with operations that span across 6 African countries. It recently entered the Mauritian market but group performance is largely anchored on Zimbabwe’s operations.

Said Basil Dionisio, Simbisa Brands CEO:

We are growing in store coverage and we believe Simbisa is set to provide compelling shareholder returns over the long run.

More: The Source

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