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*Edgars' net profit drops from $4,57 million to $548 000* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?tw A sharp decline in sales resulted in clothing retailer Edgars’s net profit plummeting from $4, 57 million to $548 000. Sales dropped by 19 percent while net profit dropped by a massive 90 percent. Sales dropped to $50,3 million for the year to January 8, 2017, down from $62,3 million last year as a result of depressed consumer demand. The group’s manufacturing division also made a loss of $400 000 because of reduced demand from the retail operations. ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* *LATEST: itel S24 (128) $124; S24 (256GB) $159* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- In a statement Edgars Chairman Themba Sibanda also decried the shortage of foreign currency, saying: > In addition, production is being affected by the limited allocation of foreign currency to the productive sector and efforts to secure export orders are continuing More: Source _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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