RETAILING: Shoprite in Grand Style
Recent Western Cape Business News
For the six months to 31 December 2008, Cape Town-based Shoprite grew turnover by 27,3% to R29,6 billion. Growth on a like-for-like basis was 22,0%. Its supermarket operation in South Africa increased sales by 24,5% and by 20,0% on a like-for-like basis.
The Group’s non-RSA business continued to perform ahead of budget growing rand turnover by 54,0% and, on a like-for-like basis, by 50,3%. The main contributing factor was that most non-RSA currencies strengthened against the rand.
The furniture division’s sales grew by 13,3% for the six months and are still affected by the higher interest rates as well as low inflation.
The above financial information has not been reviewed or reported on by the Shoprite Holding’s auditors. The financial results for the review period will be published on Wednesday, 18 February 2009.
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