The Shoprite Group, one of the largest general retailer said in its six months to December 2016, increasing turnover by 14.0% from R62.5 billion to R71.3 billion (unaudited).
The company said in a SENS announcement that growth on a like-for-like basis was 8.6%.
Sales in the South African supermarket operation continued in the same trend as the first six months of the calendar year and, supported by good festive trading, increased by 10.7%. Growth on a like-for-like basis was 7.4% with internal inflation averaging 7.4% for the period.
Shoprite said its non-RSA supermarkets such as Nigeria, Ghana and other West African countries recorded sales growth of 32.3% assisted by higher inflation and achieved in the face of low commodity prices and forex shortages in certain countries. Growth on a like-for-like basis was 14.2%. Taken at constant currencies, sales grew by 51.7%.
The Group’s furniture division grew sales by 10.0% for the period. Credit sales continues to be affected by the changes in the National Credit Act.
Shoprite Group said “The Other Operating Segments achieved growth of 10.5%, mainly driven by the OK Franchise division’s strong performance”.
As a disclaimer, the company said that above financial information has not been reviewed or reported on by Shoprite Holding’s auditors. The financial results for the review period will be published on or about Tuesday, 21 February 2017.
Shoprite now has an expansive presence in Nigeria with 25 stores across shopping malls in partnership with various retail real estate asset as the anchor tenant.
