Simbisa to expand as lockdowns ease

A BOLD decision by governments to end lockdowns could bolster revenues at the Pan-African fast food chain Simbisa Brands, researchers at IH Securities have said.

They said even as demand remain subdued in some of Simbisa’s African markets, the group would leverage on its diversified operations to drive revenue.

“We forecast revenue will increase by 424,75% in FY21 (financial year) to $16,29 billion, up from  the $3,10 billion recorded in FY20,” IH said, projecting an increase in earnings before interest, tax, depreciation and amortisation.

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