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View Full Version : Shoprite Turnover Up 13.2%



ajbabe
17th January 2012, 05:39 PM
Shoprite Holdings turnover for the last six months ending December 2011 grew by 13.2 percent to some R41.1bn.

Growth on a like-for-like basis was 8.0 percent, the company revealed in a statement.

Its supermarket operation in South Africa increased sales by 12.3 percent and by 6.8 percent on a like-for-like basis.

The group's internal food inflation for the period was on average 5.0 percent compared to an official food inflation figure estimated at 9 percent.

'Supported by a healthy growth in the demand for general merchandise, sales for the month of December were 15.5 percent higher than in the corresponding period.

At constant currencies a rand turnover growth of 16.9 percent was achieved.

New stores in Angola and Nigeria resulted in above-average growth.

The group's furniture division increased sales by 13.6 percent for the six months in a sector strongly impacted by the economic downswing this growth was generated mainly by OK.

Furniture focuses on the lower end of the market.
Shoprite, which operates a subsidiary in Ghana, is expected to publish its results on February 21.