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The Standard e-Paper
Kenya's Bold Newspaper
The Standard Group Plc is a
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influence in matters of national and international interest.
NAIROBI, KENYA: Uchumi Supermarkets has cut its full-year losses by 40.8 percent to Sh1.68 billion for the financial year ended June 30, 2017 on closure of some branches.
However, the cash-strapped retailer, which had posted a loss of Sh2.84 billion in the previous financial year, saw its net sales dip by 60 per cent to Sh2.59 billion from last year's Sh6.42 billion. This is to reflect the closure of some branches and reduced stocks.
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