22 January 2018
   
Kasukuwere begs ED for forgiveness: official
Chinamasa to divert wages to devolution
Dump Mugabe regalia, Zanu PF official
Mugabe exploited my illiteracy: Mujuru
Engineers group to expose fake degrees
Grandpa, 83, says minor pestered him for sex
Poet poses as Zimra officer, blows $35k
Choked as 2kg's of cocaine tested in court
MORE NEWS
Gemmology center in Mutare soon
NRZ loss as gold miners damage rail line
MORE BUSINESS
Unpaid Mr ugly reports sponsors to ZRP
Zim author releases new book in USA
MORE SHOWBIZ
Anger as Dembare approach City player
Cricket: ICC clears Zimbabwe's Vitori
MORE SPORTS
Mnangagwa’s ‘New’ Zim merits support
Zhuwao: kleptocracy and EDiots in Davos
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 

Pick n Pay earnings from Zimbabwe associate up 75pct

19/04/2017 00:00:00
by Source.co.zw
 
 
RELATED STORIES

HARARE: South Africa’s retail giant Pick n Pay says its Zimbabwe associate, TM Supermarkets (TM), delivered a strong 75 percent earnings growth in the full year to February 26 despite a tough macroeconomic environment marked by poor liquidity, rising unemployment and falling consumer confidence.

The group reported on Wednesday that its share of TM’s earnings grew 74.7 percent on last year to R80.2 million, representing growth in local currency terms of 71.8 percent.

Pick n Pay holds a 49 percent shareholding in TM Supermarkets, with Meikles Limited holding the balance.

It said TM benefited from increased operational collaboration with Pick n Pay, and strong trade from the rebranded Pick n Pay stores in the region.

TM Supermarkets now has 56 stores in Zimbabwe, 16 of which trade under the Pick n Pay banner after adding one branded outlet during the year.

Group turnover increased seven percent to R77.5 billion.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker