South Africa 16.1.2018 11:13 am

Retailer Shoprite says interim turnover up 6.3 percent

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Shoprite’s turnover has increased by 6.3 percent for the six months to December 2017.

Retail group Shoprite said on Tuesday its turnover increased by 6.3 percent for the six months to December 2017, compared to 14 percent previously, with operations outside South Africa declining.

Shoprite said Supermarkets RSA, the group’s primary business, increased sales by 7.8 percent for the period, but the Supermarkets Non-RSA operating segment reported a turnover decline of 0.4 percent in rand terms.

“The impact of lower commodity prices and the depreciation of local currencies remain prevalent in the larger economies of operation outside of South Africa,” it said.

The furniture division was up 10.8 percent while other operating segments, mainly driven by the OK franchise division, saw a growth of 6.7 percent.

“The current pace of growth must be viewed in context of the strong turnover growth of 14 percent in the corresponding six months in the prior year and overall internal price deflation that occurred in the last quarter,” said Shoprite.

The grocery chain is due to publish its financial results around February 27.

– African News Agency (ANA)

 

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