OK Zim Profit Up 170 Percent
![OK Zim Profit Up 170 Percent](/_next/image/?url=https%3A%2F%2Fzero.pindula.co.zw%2Fmedia%2Fnews%2Farticles%2Fok-zim-profit-up-170-percent_tV1siGu.webp&w=640&q=75)
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.
FeedbackThe 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
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