Choppies increases footprint

Multinational supermarket chain Choppies said it has increased its footprint in Zimbabwe to 30 shops this year compared to 20 in 2015.

The group's chief executive Ramachandran Ottapatchu, said the grocery shop will remain focused on expanding its presence in Zimbabwe despite the country's economic meltdown.

Losses were incurred in Zimbabwe due to depressed economic conditions, which have resulted in a shortage of cash in circulation, causing customer purchases transaction to drop markedly.

Choppies recorded a 48 percent decline in profits to P104.9 million in the period under review compared to P197.2 million recorded in the prior year.