Simbisa seeks to expand footprint

November 25, 2020

TINASHE MAKICHI

Zimbabwe’s largest food chain, Simbisa Brands Limited, will in the next six months open new counters locally and on the continent as it expands its footprint.

Group chief executive Basil Dinisio said Simbisa, which operates Chicken Inn, Pizza Inn, Baker’s Inn, Galito’s Africa, Nando’s, Steers and Vida & Caffe brands across Africa, intends to open 21 new counters over the next six months.

In Zimbabwe, Simbisa is set to open 10 counters with the balance to be spread across Africa.

“The group has a healthy capital expenditure pipeline for FY2020 and will continue to expand its footprint and defend its market share through the opening of new counters across all of its markets,” Dinisio said in a trading update this week.

In the first quarter (Q1 2020) to September 30,2020, Simbisa opened three counters in Zimbabwe, three in Kenya and one in Mauritius.

Revenues for Zimbabwe operations grew 19% in inflation adjusted terms year-on-year.

As a result of lower customer count, revenues from regional operations fell 18% year-on-year.

Customer count in the region was down 26% against the prior year as a result of the Covid-19 induced business disruptions.

Group operating profit margin improved by 7.73 percentage points of which 5.63 of the percentage points change was attributable to the impact of International Financial Reporting Standard 16 accounting  and the balance as a result of  the success of the  cost saving initiatives  implemented in Zimbabwe and the region.

Related Articles

0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments
Back to top button
Business Times
0
Would love your thoughts, please comment.x
()
x