NBV in Advanced Stage for Leather Shoes and Accessories Factory

7207 (NBV), a leather products retail chain operating under the brand name KShoe, has reported half year pre-tax profit of KES 1.5 million ending September 2016 compared to KES 1.4 Million in 2015.

During the period, NBV reported a 7.8 percent growth in sales to KES 34.6 million compared to KES 32.1million the half year ended 30^th September 2015. This was despite numerous challenges in the business environment in the country in 2016 owing to an economic slowdown impacted a majority of retail traders.

The company listed by Introduction on the Growth Enterprises Market Segment of the Nairobi Securities Exchange (NSE) last year March offering 23.6 million shares at a price of Sh5 translating to a valuation of Sh118 million.

Vasu Abutola, the chief executive officer says, “NBV plans to continue implementation of the expansion strategy by opening up new retail outlets. The company is in advanced stages of realising the strategic goals of setting up leather shoes and accessories factory in the next few years.”

The expansion plans are on thru back of the Government’s 10-year industrialisation plan in support for the local manufacturing companies