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Shoprite 12-months turnover up 14.4%

17 Jul 2012

South African retailer‚ Shoprite Holdings on Monday, 16 July, said for the 12 months to June 2012 the group increased total turnover by 14.4% to about R82.7 billion‚ compared to the corresponding 12 months of 2011. Growth on a like-for-like basis was 8.5%.

During the 2012 reporting period‚ internal food inflation averaged 4.9% compared to -0.1% in the 2011 reporting period. Turnover growth increased in the second half of the year to 15.6% from 13.2% in the first half.

The group's core operation - the South African Supermarket division - increased sales by 12.9%.

When converted to rand‚ the turnover of the 131 supermarkets the group operates outside the borders of SA‚ increased by 25.4% compared to the 2011 reporting period.

Taken at constant currencies these operations grew by 19.7%.

In a relatively low inflationary environment‚ the furniture division grew turnover by 11.1%.

The company's results for the review period are expected on or about 21 August.

Source: I-Net Bridge

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