South African retailer Shoprite has today (20 January) posted a first-half jump in profits and sales.
It announced that trading profit rose 11.9% to ZAR1.8bn (US$4.9m), while turnover increased 9.4% to ZAR36.2bn.
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The Group’s supermarket business reported positive sales growth of 8.4% to ZAR28.515bn and trading profit growth of 15.8% to ZAR1.5bn
JW Basson, chief executive, said: “The group successfully weathered a challenging trading period despite internal deflation averaging 1.2% for the period and operating expenses such as electricity, water and rates and taxes increasing 36%.
“All the segments, with the exception of the furniture division, reported acceptable turnover growth and trading profits. The group continues to invest in infrastructure and new stores for future growth.”
