S AFRICA: Shoprite posts 27% rise in turnover
South Africa's Shoprite Group grew its turnover in the six months to 31 December by 27.3%, the company said today (13 January).
Growth on a like-for-like basis increased 22%, Shoprite reported. Its supermarket operation in South Africa saw sales rise by 24.5% and by 20% on a like-for-like basis.
Shoprite attributed the company's turnover growth to its low prices.
"[Our] service levels are ahead of the market due to the group's own distribution chain which contributes to financial efficiencies and better stock planning," Brian Weyers, Shoprite's marketing director, told just-food.
"The group's different supermarket formats are strongly positioned across the various LSM groups which enables it to pick up on down-trading consumers."
The group's businesses outside South Africa continued to perform ahead of budget, growing its turnover in rand terms by 54% and, on a like-for-like basis, by 50.3%.
The main contributing factor was that most currencies outside South Africa strengthened against the rand, Shoprite said.
Shoprite operates in 15 international markets including Ghana, India and Nigeria.
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