Uchumi delays results release citing lack of proper records

Listed retailer Uchumi Supermarkets has once again delayed the announcement of its financial results by a month to the end of January, citing problems with getting proper financial information from its closed Uganda and Tanzania operations.

The retailer was due to announce its full year to June 2016 results today, but it now says government restrictions in Uganda and Tanzania combined with logistical challenges at the time of closure mean that it is yet to get a satisfactory picture of the financial standing of the closed subsidiaries.