Shoprite grew turnover by 13,8% to R46,7 billion for the six months ending December 2012 and growth on a like-for-like basis was 6,9%.In an operating update it was stated that sales increased by 11,5%, and by 6,2% on a like-for-like basis. For the month of December 2012 sales were 10,8% higher than for the corresponding period. Internal food inflation was on average 4,3% compared with the estimated official figure of 5,9%.
The rand remained weaker against most other currencies, resulting in the group’s non-South African supermarkets achieving sales growth of 28,2% and, on a like-for-like basis, of 13,4%. At constant currencies rand turnover growth of 23,5% was achieved. "This growth came mainly from the lower LSM (living standards measure) groups," Shoprite said.
Shoprite said the furniture industry remained negatively affected by the present economic conditions and the group’s furniture division grew sales by 4,8% for the period. The financial results for the review period will be published on or about 19 February 2013, the group said.
Source:
Business Day, dated 14 January 2013
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