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    SIM   ZW0009012262

SIMBISA BRANDS LIMITED

(SIM)
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End-of-day quote Zimbabwe Stock Exchange  -  05-18
220.01 ZWL    0.00%
04/21RBZ Shuts Down InnBucks
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04/19Community Pools Resources to Build Clinic... . Gets U.S.$5000 Boost From Simbisa Brands
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03/24Simbisa Brands Limited Reports Earnings Results for the Half Year Ended December 31, 2021
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Simbisa Brands to Invest U.S.$19,3 Million On New Shops

11/04/2021 | 07:07am EDT

Zimbabwe Stock Exchange (ZSE) listed diversified retail group, Simbisa Brands is set to spend US$19,3 million on opening 92 new shops in a latest development which will unlock employment opportunities for citizens.

Presenting an annual report this week, the group's board chair, Addington Chinake said the investment will chew a huge amount of money.

"The group's focus remains on growing our footprint with 92 new stores in the pipeline in FY22 at an estimated investment cost of US$19, 3 million. Of these stores, eight will be Drive-thru sites in line with increased focus on diversifying the Group's customer service channels," he said.

He said maintaining high standards of health and safety in the stores will remain a priority for the sake of both r customers and staff.

"As of the date of this report, restrictions on trading hours and sit-in service remain in place in our key markets, Zimbabwe and Kenya," he said.

Chinake said the business is confident of a swift upturn in customer counts as restrictions are gradually relaxed as witnessed earlier in the just ended financial year saying the group will continue to invest in growing the Dial-a-Delivery business across all its markets leveraging on a refreshed DAD app, customised tech-enabled logistics management, call centre platforms and expanded delivery zones.

During the financial year of 2020, the group's revenue increased by 108% made up of 60 % in Zimbabwe and 318 % in the region attributed to an increase of 34 % in average spending with customer counts increasing by 8%.

"In the region, excluding the impact of the Zimbabwe dollar exchange rate depreciation, revenue increased by 5% in USD terms from a 2% increase in customer counts and a 3% growth in average spend. Operating profit increased by 233% with operating profit margins firmer at 13%," said Chinake.

He added that the group recognised a net monetary gain of $227 million (attributable to inflation hedging strategies in Zimbabwe anchored on reinvesting profits in new stores to hedge against inflation.

Copyright New Zimbabwe. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Financials (USD)
Sales 2022 83,4 M - -
Net income 2022 9,19 M - -
Net Debt 2022 - - -
P/E ratio 2022 43,0x
Yield 2022 0,69%
Capitalization 381 M 381 M -
Capi. / Sales 2022 4,57x
Capi. / Sales 2023 3,28x
Nbr of Employees 5 527
Free-Float 98,0%
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 2
Last Close Price 0,68 $
Average target price 0,13 $
Spread / Average Target -80,8%
EPS Revisions
Managers and Directors
Basil S. Dionisio Group Chief Executive Officer & Executive Director
Baldwin Guchu Group Finance Director & Executive Director
Onias Moyo Finance Director
Addington Bexley Chikomborero Chinake Independent Non-Executive Chairman
Amit Gupta Independent Non-Executive Director
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