OK Zimbabwe has completed the face-lift of its Machipisa branch and anticipates an increase in foot traffic in the high density suburb shop.
BY FIDELITY MHLANGA
With inflation at 785,5% as of May buying power has been heavily eroded.
“We have started to see an increase in traffic flow since opened after completing renovations. Going forward we anticipate customer flow and expenditure will increase. With the introduction of hardware section and liquor section we want to be very competitive” said OK Machipisa branch manager Thulani Pfupajena yesterday.
The renovations geared towards meeting international standards started in January and were completed early this month. The face-lift includes the installation of new refrigeration, shelves, check out system and tiling for the whole store.
The company has added to the grocery store the liquor store and the hardware segment.
“We appreciate that things are tough but we envisage that as a business will continue to offer competitive advantage through our services,” Pfupajena said.
According to the group’s financial results for the year ended period ended March 31 2020, inflation adjusted revenue was $10,27 billion from $ 8,59 billion prior year.
Profit for the year was $ 586,6 million from $ 426,3 million the previous year.
Overheads grew by 427%, 37 percentage points below growth in revenue stemming from generator fuel costs for alternative power, electricity costs, maintenance costs and spares, bank charges and rentals are the major overheads growth drivers.
Total assets for the year grew to $2,93 billion from $2,53 billion.
During the previous reporting period, the group completed , makeovers at OK Gweru, OK Mutare, OK Triangle and Bon Marche’ Westgate. A new OK store was opened in Karoi towards the end of the year on the eve of the COVID-19 pandemic lockdown.