By MAIMBOLWA MULIKELELA –
ZAMBIA Bata Shoe Company Plc’s has posted a seven per cent increase in turnover from K65.489 million last year to K70.384 million this year.
The increase is attributed to improved business arising from ‘back to school’ and gumboot sales in the first quarter of the year.
This is according to the company’s unaudited results for the half year ended June 30, 2017 made available to the Times by the Lusaka Securities Exchange (LuSE).
The report indicated that the company registered a positive growth in the stores across Copperbelt region, which had under performed in the last two years when the mining business went down.
It stated that profit before tax increased by eight per cent compared to the same period last year.
“The company’s financial position and cash flow has improved tremendously due to strong working capital management,” the report indicated.
The company plans to open three additional stores before end of the year, in the continuing drive to boost and grow business.
“Our merchandising team have put in place market friendly product range for the second half of 2017 which should take us through to the important Christmas business.
“As the Zambian economy is picking up positively, we anticipate improved business performance in the remaining second half of the year,” states the report.