Uchumi posts Ksh1.7 billion loss as retailer inches towards recovery

Uchumi Supermarket has seen its losses fall by 40% in the 2017 financial year to Ksh1.7 billion compared to Sh2.8 billion loss in 2016 attributed to improved cost management.

Expenses went down by 42 percent in the period under review from Sh3.6Bn in 2016 to Sh2.1Bn in 2017 while the cost of sales hit Sh2.5bn from Sh6.4bn in 2016.

The firm says that despite the suppressed business in the current and past financial year the firm recorded improved margins.