Shoprite boasts rise in half-year turnover

Shoprite boasts rise in half-year turnover

FMCG SUPPLIER NEWS

Fin24 - Jan 17th, 09:11

Johannesburg - Shoprite Holdings [JSE:SHP] said on Monday that for the six months ended December 2011 it grew turnover by 13.2% to some R41.1bn. 

Growth on a like-for-like basis was 8.0%. The consumer price index is projected to be 5.8% for the six months, Shoprite said.

Its supermarket operation in South Africa increased sales by 12.3% and by 6.8% on a like-for-like basis.

The group's internal food inflation for the period was on average 5.0% compared to an official food inflation figure estimated at 9%.

"Supported by a healthy growth in the demand for general merchandise, sales for the month of December was 15.5% higher than in the corresponding period," the company said in a statement.

"The rand weakened against most non-RSA currencies resulting in the group's non-RSA supermarkets achieving a sales growth of 21.2% for the period and 13.9% on a like-for-like basis," it said.

At constant currencies a rand turnover growth of 16.9% was achieved.

New stores in Angola and Nigeria resulted in above-average growth.

The group's furniture division increased sales by 13.6% for the six months in a sector strongly impacted by the economic downswing - this growth was generated mainly by OK Furniture, which focuses on the lower end of the market.

Shoprite will publish its results on February 21.