Shoprite Group increases turnover

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Ayanda Mdluli

JOHANNESBUNRG- The Shoprite Group said the company had increased turnover by by 6.3% for the six months to December 2017.

In a SENS announcement on Tuesday, Supermarkets RSA, the Group’s primary business, increased sales by 7.8% during a period when internal inflation decreased to 0.4% for the six months compared to the corresponding period’s 7.4% driven mainly by a reduction in the price of basic commodity items.

“The economic and trading conditions in Non-RSA remained unchanged, with the result

that the Group’s Supermarkets Non-RSA operating segment reported a negative

turnover growth of -0.4% in Rand terms (1.9% positive in constant currency terms).

The impact of lower commodity prices and the depreciation of local currencies remain

prevalent in the larger economies of operation outside of South Africa,” said the company’s chief executive Pieter Engelbrecht.

In addition, the group’s Furniture division reported increased sales of 10.8% while Other Operating Segments, mainly driven by the OK Franchise division’s performance, saw a growth of 6.7%.

“This is pleasing given low internal price inflation and in line with the Group’s RSA

supermarket performance,” said Engelbrecht.

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