×
The Standard e-Paper
Join Thousands Daily
The Standard Group Plc is a
multi-media organization with investments in media platforms spanning newspaper
print operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
NAIROBI: Uchumi Supermarkets has issued a profit warning for the year ended June with the struggling retailer projecting a 25 per cent drop in earnings. The retailer booked a net profit of Sh536 million last year, a figure that has been contested by some directors as having been padded by past management including its fired chief executive Jonathan Ciano.
“The Board of Uchumi Supermarkets Limited currently forecasts that earnings for the financial year ending June 2015 will be lower than those recorded in 2014 by at least 25 per cent,” indicated the firm in its regulatory filings yesterday.
Subscribe to our newsletter and stay updated on the latest developments and special offers!
join