Uchumi Supermarkets has announced a Sh8.8 million rare profit for the full year period that ended on June 30, 2025. This profit was largely contributed by income from rental business that the company is currently involved in.
According to disclosures that have been released under the Company Voluntary Arrangement (CVA), the Sh8.8 million profit was a turnaround from the Sh49.7 million loss that the company disclosed in its audited results for the previous year that concluded on June 30, 2024.
This CVA report was prepared by Owen Koimburi from the business advisory firm known as Forvis Mazars Kenya. The CVA was set up in March 2020 and its mandate is set to conclude in June 2026.
Although Uchumi has returned a profit, the results were below the Sh12.85 million profit that the company had anticipated to make during the period.
According to the CVA report, revenue from sales increased from Sh65.4 million to Sh123.01 million during the period under review. This saw Uchumi record a 79 percent rise in gross profit to Sh27.7 million, after netting off Sh95.31 million as cost of sales.
The troubled Uchumi Supermarkets has been concentrating on renting out its premises. One of these rental properties is the building that is currently occupied by China Square.
The financial disclosures show that rental income increased by nearly five times to Sh62.7 million in the period under review from Sh13.5 million that was realized in the previous period. Much of this rental income came from the space occupied by China Square which took over the space in June 2024. Previously, this space had hosted Uchumi’s Lang’ata Hyper Branch.
The report further indicated that Uchumi currently has 11 tenants who are paying a monthly rental income of Sh5.94 million. China Square pays Sh5 million which is equivalent to about 84 percent of the company’s monthly rental income.
Other tenants include Paris Lounge Grill which pays Sh300,000 per month, Isle Garden which pays Sh212,155, Sudo Liquor Store which pays Sh114,223, and Spatial Barberz which pays Sh64,655.
“The company’s growth potential is evident from the financial performance report, which indicates consistent growth to date. Priority should be given to closing the gap between actual and budgeted performance,” said Koimburi.
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