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