Kenya's Uchumi Supermarket posts loss of Sh3.2 billion

Uchumi Supermarket

NAIROBI - Kenya's Uchumi Supermarkets swung to an loss after tax of 3.2 billion shillings ($31.37 million) for its year ended June, partly due to an impairment charge for closing some regional outlets as part of a turnaround plan.

Uchumi, which has new management, had reported a profit of 491 million shillings in the same period a year earlier.