Choppies increases profit but still faces debt burden

Choppies CEO Ramachandran Ottapathu i Picture: CALVIN ANDERSON

The retailer, which has stores in Zambia, Botswana, Zimbabwe and Namibia, says it is the biggest retailer in Southern Africa outside SA. It has a primary listing on the Botswana stock exchange and a secondary listing on the JSE, but no longer owns stores in SA. Its auditor at the time, PwC, delayed releasing the results as it began “reassessing a number of past accounting practices and policies”.

Source: News Formal (newsformal.com)

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