Last year, CFAO Consumer Retail recorded a turnover of €140 million. Will you be profitable in 2022?
We should end the 2022 financial year with a turnover of €230 million at the end of March 2023 (editor’s note: an increase of 64%) via a major expansion policy. The Ivory Coast and Cameroon will each generate €100 million in turnover, and Senegal around €30 million. On a like-for-like basis, we are up by 5%, and volumes are falling due to inflation. In our 3 countries, inflation in the consumer basket was an average of 10% at the end of December 2022 (annual change). To answer your question, CFAO Consumer Retail will not be profitable this year, but our ambition is to break even over the next financial year, while remaining fully compliant. This is the path we have taken, and we should achieve it if the global economic situation does not worsen. We are aiming for €400 million of turnover for the next fiscal year (end March 2024).
Why is food retailing losing money?
Of our three activities, two are profitable.
