Sundry Markets Limited

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Sundry Markets Limited (2021-12)
  • Sundry Markets Limited
  • Year : Dec 2021
3 Tokens
USD 300.00

Sundry Markets has reported strong revenue progression over the review period with a CAGR of 97% between FY16 and FY20, underpinned by rapid store expansion and volume growth across its stores. This has been complemented by the efficient management of operating costs, which has seen EBITDA margin maintained at around 11% over the review period. Nevertheless, revenue stability is yet to be fully tested on a larger scale, with more diverse distribution chains. GCR also expects competition for market share in modern retail to increase, driven by a number of well-funded supermarket groups.

Additional Information

Sundry Markets is also an affiliate of Sundry Foods Limited, one of the leading food service companies with over 100 outlets across the country. Operating as a full indigenous grocery retail store, with over 70% of its product offerings sourced locally, SML's contribution towards the country's industrial development and growth (via local patronage) has attracted funding support from development financial institutions, such as the Bank of Industry (“BOI”). The Stable Outlook reflects GCR’s expectation that earnings and cash flow will remain strong and continue to support ongoing expansion, whilst maintaining a moderate capital structure and liquidity profile.

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