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Wednesday 24 July 2019
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Shoprite’s N$8.8 billion turnover in 6 months

The Shoprite Group, one of Africa’s retail giants, said in its six months to December 2016, its turnover increased by 14.0% from R62.5 billion to R71.3 billion (unaudited).
In a trading statement issued on the Namibian Stock Exchange this week, Shoprite said growth on a like-for-like basis was 8.6%.
“Sales in the South African supermarket operation continued in the same trend as the first six months of the calendar year and, supported by good festive trading, increased by 10.7%. Growth on a like-for-like basis was 7.4% with internal inflation averaging 7.4% for the period,” announced the Group.
According to the Group, the non-RSA supermarkets recorded sales growth of 32.3% assisted by higher inflation and achieved in the face of low commodity prices and forex shortages in certain countries. Growth on a like-for-like basis was 14.2%. Taken at constant currencies, sales grew by 51.7%.
Reporting further, the Group said its furniture division grew sales by 10.0% for the period, while credit sales continues to be affected by the changes in the National Credit Act.
The Other Operating Segments achieved growth of 10.5%, mainly driven by the OK Franchise division´s strong performance.
“The above financial information has not been reviewed or reported on by Shoprite Holding´s auditors,” cautioned the trading statement.
The financial results for the review period will be published on or about Tuesday, 21 February 2017.[nsx.com.na]
Issued on 17 January 2017




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