Shoprite banks R92.7bn

Retail group Shoprite reported on Tuesday (16 July) that total turnover for the 12 months to June had increased by 12.1% to about R92.7bn‚ compared with the corresponding 12 months last year.

Growth on a like-for-like basis was 5.8%.

During the year‚ internal food inflation averaged 4.3% compared with 4.9% in 2012.

Shoprite said the growing pressure on consumers' disposable income reflected in the slow-down in sales in the South African supermarket division‚ the largest division in the group‚ which grew sales by 9.8%

This had an impact on the group's total performance which saw turnover growth of 10.4% in the second half of the year‚ compared with 13.8% in the first half.

When converted to rand‚ the turnover of the 153 supermarkets the Group operates outside the borders of South Africa‚ increased by 27.9% compared with the previous year. Taken at constant currencies these operations grew by 21.2%.

With relatively low product inflation‚ the furniture division grew turnover by 4.7%.

The financial results are expected to be published in August.