BusinessLIVE:

Cash is proving to be king for fast food operator, Innscor Africa, which runs franchise outlets for Nando’s, Chicken Inn and Steers counters mainly in Zimbabwe, Zambia, Kenya and Ghana.

Innscor Africa, a blue chip company on Zimbabwe’s stock exchange, has other operations such as retailing, baking and food processing. For the year ended June 30, the diversified conglomerate recorded revenues of $516.14 million while operating profit stood at $47.66 million – pointing to an after tax profit of $41.33 million.

And attesting to the fact that the fast foods retail silo is raking in the cash for the company, chairman David Morgan said this week that the “group acquired the non controlling interest” in both its “local and regional fast foods franchising operations”.

Originally posted by Cris Zimermann on September 12, 2011 in Franchise Site.

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