Uchumi CEO, Jonathan Ciano addresses investors at a past function at Serena Hotel Nairobi. Costs related to expansion and delays in opening up new branches ate into Uchumi Supermarket’s profits during the six month period ended December last year resulting in a 34.14 per cent drop in profit before tax. Picture: File
Costs related to expansion and delays in opening up new branches ate into Uchumi Supermarket’s profits during the six month period ended December last year resulting in a 34.14 per cent drop in profit before tax.
The Nairobi Securities Exchange listed company, which owns a chain of supermarkets in Kenya, Uganda and Tanzania on Monday posted Ksh131.93 million ($1.53 million) in profit before tax as at the end of December 2012 compared to Ksh204.25 million ($2.36 million) posted as at the end of December 2011.
