Quick service restaurant group,
This comes as the Covid-19 pandemic had caused disruptions to businesses across sectors and economies due to reduced trading hours in line with observing lockdown restrictions.
For Simbisa, with businesses across the region, the relaxation of restrictions across markets should see improved trading hours as well as customer counts.
"With the gradual easing of trading restrictions in our operating markets, trading hours are scaling up and with that, customer counts are recovering," said the group in a trading update for the third quarter to
"Considerable effort has been put into managing our cost base which has seen a considerable improvement in group operating margins.
"Thus, a recovery in revenue will translate to growth in profitability and improved Shareholder returns and value delivery.
"The Group continues to pursue a short to medium term growth strategy hinged on new store openings and growth in the delivery business," said Simbisa.
During the third quarter to
Revenue for the
The adverse effects of Covid-19 have confined to impact the business.
"The Covid-19 pandemic continues to impact customer counts, particularly in
"This had a significant impact on counter trading hours; the
According to the group, sit-in capacity was reduced to 50 percent resulting in customer counts going down 34,4 percent during the third quarter under review.
Footfall has recovered since trading restrictions were relaxed from March and the business grew customer counts by 12 percent that same month.
Average spend during the quarter increased 32 percent in USD terms and 417 percent in ZW dollar although consumer spending power remains under pressure in
The relaxation of Covid-19 restrictions has also seen gradual improvements in customer counts on regional operations which recorded revenue growth of 504 percent.
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