Kenya’s Uchumi Supermarkets swung to an loss after tax of 3.2 billion shillings ($31.37 million) for its year ended June from a profit of 491 million shillings in the previous period, it said on Friday.Uchumi Supermarkets said the earnings were hurt by higher operating expenses.
Uchumi’s new management has been working on a turnaround plan to return the business to profit.
Uchumi Supermarkets provides Kshs 1.04 billion for write-off “for items arising from (previous) management misrepresentatio
-The chairperson and two directors of Uchumi Supermarkets board “will not offer themselves for reelection during the AGM”
