Naivas posts Sh2 billion profit in nine months

Supermarket chain Naivas Limited made a profit of Sh2.1 billion in the nine months ended March, marking a higher earnings growth from a year earlier.

The performance of the private company has been disclosed by Mauritian conglomerate IBL Group which acquired a 26.3 percent stake in the retailer in August last year as part of a consortium that owns a combined 40 percent equity.