South African grocer Shoprite said the company performed “satisfactorily” in the first half of its fiscal year after it booked a 12% increase in turnover.
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For the six months to 31 December, turnover reached ZAR33.1bn (US$4.46bn). Growth on a like-for-like basis increased 6.4%. The performance was against internal inflation that dropped to under 3% in December.
Supermarket operations in South Africa saw sales rise by 14.6% and by 9.1% on a like-for-like basis.
Due to the weakening of most non-South African currencies against the rand, the turnover of the group’s foreign supermarkets declined in rand terms by 4.3% and, on a like-for-like basis, by 9.3%. At constant currencies, however, turnover climbed 16.3%.
Shoprite’s full first-half results will be published on 23 February.
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