Non-trading income rose by
Group revenue was 1.8% lower than the prior period due to a lower turnover from its retail and agricultural subsidiaries while borrowing was increased after the Group secured funding for expansion and refurbishments in the supermarket and hotel business.
Basic earnings per share rose to 13.56c from 0.75c a year earlier. The group presented unaudited results for the period while audited results were presented at the end of this month.
The release of the unaudited results was sanctioned by the
The resolution of the deposit held at the
The resolution will influence the audited results, in the composition of the balance sheet and in the disclosure of post balance sheet events.
Intense negotiations with the
The resolution will be based on the company being in receipt of Treasury Bills, the terms are to be acceptable at face value to the market.
The receipts has potential to make a substantial contribution to the Nation, both through the group's own activities and the corporate responsibility programmes through the
TM supermarket's turnover fell to
The store portfolio increased from 49 to 53 branches under review with the company securing 4 new in prominent areas in the second half of the year, which increased the subsidiary's trading area by 10% to 55 000 sq m.
Their impact on turnover and profitability will be felt in the ensuing financial period. The Meikles Mega Market stores contributed over
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