Fidelity bank banner Bayelsa State banner
Shoprite extends tentacles to 15 countries, emerges South Africa’s largest private sector employer

By Robert Laing on 22/08/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 837


 Shoprite, with a staff of 143,802 people, is SA’s largest private sector employer, the grocery chain claimed in its results for the 52 weeks to July 2 released on Tuesday morning.

Shoprite said it added 6,027 new positions during the reporting period as it grew to 2,689 outlets in 15 countries.

Retailers report in weeks rather than months, placing Shoprite’s 2017 financial year results in a slightly unflattering light in that it compares 52 weeks to 53 in its 2016 results.

Total sales grew 8.4% to R141bn and aftertax profit 12% to R5.4bn.

Shoprite declared a final dividend of R3.24, taking its total for the year to R5.04, an 11.5% increase over the prior year’s R4.52.

“The core South African supermarket operation, which represents 72% of total sales and 79% of trading profit, recorded sales growth of 8% (52 weeks: 10.5%) in a tough operating environment,” CEO Pieter Engelbrecht said in the results statement.

“Supermarkets outside of SA in 14 countries in Africa and the Indian Ocean Islands continued to perform well, generating an 11.7% increase (on a 52-week comparison: 13.5%) in turnover.

“Turnover growth of 31.6% (52 weeks: 33.8%) at constant currencies remains strong, albeit at a lower rate than the previous year.”

Engelbrecht said the chain held internal food inflation at an average 5.9% compared with official food inflation of 10%.

“Security costs are still showing double-digit growth due to the group having to spend more to protect customers and stores from the scourge of burglaries and armed robberies, which are on the increase, especially during month-ends and grant payouts,” Engelbrecht said.

•Text courtesy of Business Day SA

 

Source News Express

Posted 22/08/2017 2:34:52 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Jibrin’s ‘war’ against the House of Representatives, By...

Only survivor of Lagos fire that claimed 7...

Breaking News: Brazil 2014 World Cup: NIGERIA DRAWS...

Police nabs 31 suspected kidnappers along Abuja-Kaduna road...

NAF jet destroys Boko Haram logistics base, wipes...

Bayelsa Polls: Stop using President’s name for personal...

Jonathan pledges more development if re-elected, woos Rivers...

MTN hires another senior banker

Synergising Freedom, Prosperity and Big Government (1)

Kebbi loses traditional ruler

Finance Ministry faults staff protest over N1.2 billion...

Anambra Election Petition Tribunal begins sitting Tuesday (Feb....

 

Latest News BREAKING: Croatia crush Argentina 3-0 to reach 2018 World Cup knockout stage The criminals in police uniform Witness to history DSS nabs 2 suspected Islamic State commanders in Abuja 2018 Budget: SERAP recommends ICC prosecution of lawmakers over cutting of critical projects Windstorm, Fire Disaster: Buhari weeps in Bauchi nPDP members to attend APC Convention: Baraje 2018 budget: FG to borrow N1.6tn to fund deficit N282.7m UBA fraud: Absence of witness stalls oil marketer’s trial Pharmacists destroy N452m worth of drugs Projects' probe: ICPC makes U-turn, withdraws charge against NDDC boss NERC grants electricity generation, distribution licences to Ariaria Market

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (352,347 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (351,739 views) Shameless Genevieve Nnaji exposes breasts in public (280,299 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (230,149 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (209,101 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (208,827 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (181,859 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (163,962 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (153,961 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (148,660 views) Lagos plane crash: Journalist releases victims’ names (143,871 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (135,695 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (50) Business & Economy (3,260) Business Verdict (44) Columnists (870) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (505) Features (607) Global Business Monitor (283) International (2,045) Interview (154) Live Commentary (28) Love Matters (124) News (36,375) Opinion (1,004) Pidgin (10) Politics (5,297) Religion (770) Sports (1,553) Stock Watch (30) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Portugal v Spain 2018

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement