Africa-focused fast-food restaurant operator Simbisa Brands has posted a 26 per cent net profit growth for the year ended June 30, buoyed by performance of its Kenya and Zimbabwe units.
The company — which operates quick service restaurants in Kenya including Chicken Inn, Pizza Inn, Bakers Inn and Creamy Inn — reported a net income of $6.35 million (Sh656.1 million) in the period up from $5 million (Sh516 million) last year driven by an eight per cent growth in revenue. Revenue grew from $146.6 million (Sh15.1 billion) in the same period last year to $158.9 million (Sh16.4 billion) as the group opened up new stores across the region.
In Kenya, Simbisa opened eight new counters and closed four, bringing the total to 121 as at June 30. Simbisa Brands chairman Addington Chinake said regional operations in Kenya, Zambia, Ghana, the Democratic Republic of Congo and Mauritius contributed $58.4 million (about Sh6 billion) to group revenue, up from $54,5 million (about Sh5.6 billion) last year.
The firm said in July it had set sights on expanding in African markets to take on international brands like McDonald’s.
Zimbabwe and Kenya have the largest number of Simbisa outlets. It has 193 counters in Zimbabwe and 205 abroad. The firm recently invested $4.3 million (Sh446.7 million) in the expansion of its operations in Kenya, Zimbabwe and Mauritius.