23 Feb Interim Results For Six Months Ended December 2014
Securities Exchange Notices | Shoprite Holdings Limited | Interim Results For Six Months Ended December 2014
– Trading profit up 11.6% to R3.003 billion.
– Turnover up 12.5% to R57.469 billion.
– Diluted headline earnings per share up 8.6% to 370.2 cents (2013: 341.0 cents).
– Dividend per share up 8.3% to 143 cents (2013: 132 cents).
Whitey Basson, chief executive:
In the six months to December 2014 the Shoprite Group grew total turnover by 12.5% to R57.469 billion despite
the continuous slowdown in the economy, the disruptions caused by erratic power supply and slow disposable
income growth. Although our African operation performed as well as a year ago, growing turnover
by 15.4% in
constant currencies, the dramatic drop in the oil price has slowed economic growth in countries such as Nigeria
and Angola whose economies are dependent on the oil price. Yet, the Group achieved a trading margin of 5.23%
in a competitive environment due to the adding of new business, our rigorous cost control practices in existing
stores and the efficiency of our extensive distribution infrastructure. Primed for growth, the latter has already
enabled us to open an additional 53 new stores in South Africa in the six months to December without adding
materially to our distribution costs.
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