| Published Thu, February 22nd 2018 at 11:44, Updated February 22nd 2018 at 12:11 GMT +3NAIROBI, KENYA: Uchumi shareholders will have to go without dividends as retailer declares pretax loss of Sh895 million in 2017 compared to Sh547 million previous year. Uchumi said its management will continue working with the Board to implement re-structure strategy aimed at returning the organization to a positive and sustainable EBITDA position. Uchumi, the oldest supermarket chain in Kenya, has been fighting to get out of loss-making territory for the past two years. In the recent months, Uchumi Supermarkets has faced several challenges in its turnaround strategy. Uchumi’s Sarit Center branch, one of the retailer’s most lucrative locations left open is also earmarked for closure in April this year.

Source: Standard Digital February 22, 2018 08:55 UTC