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Meikles said all obtaining subsidiaries generated positive cash flows during the period and the group remained strong, bolstered by the US cash balance from its offshore subsidiary.
Contrary to the widespread rumours, the partnership reassured stakeholders that the lease arrangement is secure and will continue for the foreseeable future.
The appointment comes as TM Supermarkets (Pvt) Limited managing director Malcolm Mycroft vacated the role as group CEO two days before Moxon’s appointment.