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Bata records 40 % profit

THE continued favourable business environment in the country has had a positive effect on the overall profit of Bata Shoe Company which registered an increase of 40 percent to almost K21.7 million as at December 31, 2014 from about K15.5 million the same period previously.
The company also posted an increase in turnover to over K123.3 million last year from about K100.5 million previously, according to Bata Shoe Company   financial results for the year ended December 31, 2014 availed to the Daily Mail by the Lusaka Stock Exchange last week.
Bata says during the year under review the firm remodelled six stores and in turn the stores recorded excellent business.
the company also opened two stores in Lusaka and one in Ndola.
“2014 was a year with many contradictions in our business. The year started on a very good note with good performance in all our stores and provinces. This trend continued until the first half of the year. The second half of the year was very difficult as business started to slow down.
“It is, however, gratifying to note that despite all the challenges, the company  achieved a growth in turnover of 23 percent from K100,502,314 in 2013 to K123,305,193 in 2014.profit before tax grew by 40 percent from K15,463,206 in 2013 to K21,694,591 in 2014,” the report reads.
The company says during the period under review its merchandising team continued putting together a collection that reflected the customers’ needs interms of both fashion and price.