Shoprite has posted a 24.5% rise in annual sales, boosted by food inflation and market share gains.
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The South African retailer, which operates Shoprite and Checkers supermarkets, said sales for the 12 months to the end of June rose to ZRA59.3bn (US$7.28bn).
Revenue growth was driven by food inflation of 15.8%.
Like-for-like sales increased 19.1%, the company added.
Shoprite’s market share also increased as sales growth outpaced its key competitors, particularly those operating at the higher end of the market.
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By GlobalDataShoprite’s sales growth slowed to 21.8% in the second half, as consumer confidence was dented by the onset of the recession in South Africa. In the first six months of the year, sales growth stood at 27.3%.
