Chief executive Willard Zireva added that the group was forecasting a better performance for July in terms of revenue, which was increasing monthly as more stock became available. In the first two months of the groups financial year, sales totalled US$19m.
The CEO said the company was aware of competition from the small independent retailers.
We have a comprehensive brand with a fuller range when compared to the other stores, he said.
Since the dollarisation of the economy last year, many new stores have opened, some as a result of other businesses closing and then converting into supermarkets.
Zireva said the group had 78,000 square metres in trading floor.
We have more space than any other retailer, even though rival TM has got more outlets, said Kahari.
A new store has opened in Chipinge and the group is looking at funding options for the Masvingo store.
Zireva said the group would be moving on to advertising, as margins had now stabilised.
11.8.2009
9:34
Supermarket rakes in big profits
HARARE - The supermarket business seems to be back on its feet, with the news that retail giant OK Zimbabwe made US$31.2 million in the three months up to June. Chairman Eric Kahari told shareholders that OKs revenue was in line with the expectations of the company.