South African grocery chain Shoprite has reported sales up 12.8% to ZAR33.511bn (US$4.7bn) for the full year to June 2006.
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Trading profit rose over a fifth to ZAR1.253bn in the period under review, while headline earnings per share improved by 10.4% to 145 South African cents.
CEO Whitey Basson said after several years of restructuring and consolidating its activities into a coherent whole, the business was now reaping the rewards.
“The South African operation of our supermarket brands fared exceptionally well in terms of both turnover and trading profit growth, while our non-RSA operation improved considerably on its 2005 results. We were fortunate in being able to refine this process of consolidation during a time when strong economic growth and high consumer confidence boosted our efforts,” he said.
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