- Profits projected to be P35m to P44m higher than prior year
Issuing a cautionary announcement on the Botswana Stock Exchange (BSE), the Board of Sefalana Holding Company Limited has said the Group’s profit before tax for the 52-week period ended 24 April 2022 will be between 12 percent and 15 percent.
This is approximately P35 million to P44 million higher than what was reported for the comparative 52-week period ended 25 April 2021 which amounted to P290 million. Sefalana says it will be publishing its consolidated financial results of the Group for the 52-week period ended 24 April 2022 by the end of July 2022. This will include commentary on the drivers for the enhanced performance. It accordingly advised shareholders and investors to exercise caution when dealing in the company’s securities until the publication of further updates.
In terms of the Listings Requirements of BSE, companies are required to announce through the BSE any circumstances or events that have or are likely to have a material effect on their financial results for the period to be reported upon next. Sefalana is Botswana’s second largest distributor and retailer of Fast Moving Consumer Goods (FMCG). It operates more than 88 stores across Africa and has grown into a large and diverse business, operating in a number of sectors predominantly in the Fast Moving Consumer Goods (FMCG) sector within Botswana, Namibia, Lesotho, South Africa and most recently, Australia.