Shoprite hikes six months turnover to R71bln

Shoprite hikes six months turnover to R71bln

Shoprite hikes six months turnover to R71bln

January 17  2017 – THE  Shoprite Group on Tuesday (today), reported a significant growth in turnover for the six months to December 2016, an increase of 14 percent from R62.5 billion to R71.3 billion.

Shoprite said sales in the South African supermarket operation continued in the same trend as the first six months of the calendar year and, supported by good festive trading, increased by 10.7 percent.

The group’s non-South African supermarkets recorded sales growth of 32.3 percent assisted by higher inflation and achieved in the face of low commodity prices and forex shortages in certain countries.

The group’s furniture division grew sales by 10 percent for the period. Shoprite said credit sales continued to be affected by the changes in the National Credit Act.

The other operating segments achieved growth of 10.5 percent, mainly driven by the OK franchise division’s strong performance.

The financial results for the review period will be published in February. – www.zimsinsa.com  ANA

Shoprite hikes six months turnover to R71bln