Supermarkets generate Rs 41.31 Billion Turnover in 2022

The Top 100 Companies 2023 report reveals that the combined turnover for the mass retail sector in 2022 reached Rs 41.31 billion, compared to Rs 37.92 billion in 2021.

The sector’s combined profitability also saw a substantial rise, reaching Rs 1.26 billion in 2022 compared to Rs 687 million in 2021.

Three operators, namely Somags Ltd, Supercash Ltd, and Antonio Maurer & Co Ltd, incurred losses in 2022.

Winner’s, represented by Pick and Buy Limited, continues to dominate the Top 10, reporting a 10% increase in turnover and a 106% increase in pre-tax profits.

Other notable changes in the Top 10 include Udis Ltd (Super U) moving to the second position with a 26% increase in turnover and a 207% increase in pre-tax profits, while Seven Seven Co. Ltd (Dream Price) dropped to third place.

Somags Ltd and Bagatelle Distribution witnessed a decline in profits, with Somags Ltd affected by the partial closure of Jumbo Phoenix and Bagatelle Distribution facing challenges from the opening of the Tribeca Mall.

Source: Defi Media