OK Zim Profit Up 170 Percent

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Leading supermarket retailer OK Zimbabwe Limited has posted a profit of $16,6 million for the full year ending 31 March 2018.

This was a massive 174,6 percent increase from the $6.1 million in the previous period. In a statement, group chairperson, Mr David Lake said,

Revenue for the year improved by 23,4 percent to close the reporting period at $582,9 million having increased from $472,4 million in the prior year.

Profit before tax of $23,6 million was 165,6 percent up on prior year’s $8,9 million, while profit after tax increased by 174,6 percent to $16,6 million from $6,1 million in prior year.

The cost of sourcing foreign currency had the inevitable effect of increasing prices, with Zimstat reporting year on year inflation increase of 0, 21 percent.

More: Chronicle