Subscribe & Follow

Advertise your job vacancies

Jobs

Shoprite turnover up 13.2% to R41.1bn

17 Jan 2012

Shoprite Holdings said on Monday, 16 January, that for the six months ended December 2011 it grew turnover by 13.2% to some R41.1 billion.

Growth on a like-for-like basis was 8.0%. CPI is projected to be 5.8% for the six months, Shoprite said.

Its supermarket operation in South Africa increased sales by 12.3% and by 6.8% on a like-for-like basis.

The group's internal food inflation for the period was on average 5.0% compared to an official food inflation figure estimated at 9%.

"Supported by a healthy growth in the demand for general merchandise, sales for the month of December was 15.5% higher than in the corresponding period," the company said in a statement.

"The rand weakened against most non-RSA currencies resulting in the group's non-RSA supermarkets achieving a sales growth of 21.2% for the period and 13.9% on a like-for-like basis," it added.

At constant currencies a rand turnover growth of 16.9% was achieved.

New stores in Angola and Nigeria resulted in above-average growth.

The group's furniture division increased sales by 13.6% for the six months in a sector strongly impacted by the economic downswing - this growth was generated mainly by OK Furniture, which focuses on the lower end of the market.

Shoprite will publish its results on 21 February.

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za