Innscor set to roll out regional outlets

Innscor said it plans to roll out more outlets in Kenya, Malawi and Zambia in the next six months.
In the period under review, the company recorded revenue of US$255,5 million, an operating profit of US$26 million and a profit before tax of US$24,2 million.
Innscor said basic earnings per share for the six months to December 31, 2010 rose to 2,61 cents, compared with 1,61 cents a year earlier. The company said revenue rose to US$255,5 million from US$208,79 million the previous year, while operating profit before depreciation and amortisation rose to US$26 million from US$19.8 million.
“The first six months of the financial year have been exciting for the group with good revenue and volume growth being recorded in the majority of businesses.
“Profitability also improved and was enhanced by both revenue growth and better conversion efficiencies.”
The company declared an interim dividend of 0,6 cents.
It would also seek to “capitalise on the strong brand equity that has been built in the region over the past 12 years, whilst the SPAR Zambian operations will start looking to increase its footprint . . .”
Innscor last year unbundled its crocodile-farming unit, Padenga Holdings, which listed separately on the Zimbabwe Stock Exchange.