Uchumi Supermarkets Ltd. (UCSP), Kenya’s only publicly traded retail chain, said profit in the first half of its financial year rose 26 percent.

Pretax income for the six months through December climbed to 204.3 million shillings ($2.4 million) compared with 162.2 million shillings a year earlier, while sales jumped to 7.5 billion shillings from 5.8 billion shillings, the company said in a statement distributed by e-mail by the Nairobi Securities Exchange today.

The company’s shares gained the most in a week, rising 0.7 percent to 7.50 shillings by the 3 p.m. close in the capital, Nairobi.

Uchumi resumed trading on the Kenyan bourse on May 31 after being suspended when it went into receivership in June 2006 with debts of 2.2 billion shillings, of which 957 million shillings was owed to Kenya Commercial Bank Ltd. and PTA Bank Ltd. The company emerged from receivership in March 2010, after most of its debts were cleared and others converted into shares.

To contact the reporter on this story: Eric Ombok in Nairobi at [email protected]




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