Shoprite sees continued growth

Africa's largest grocery retailer, Shoprite Holdings Ltd, posted a 26-percent rise in first-half earnings on Tuesday, and forecast continued growth in the second half of its financial year.

Shoprite said despite interest rates edging up, consumer spending remained high with no noticeable change in spending patterns in the food retail sector.

"Credit is still widely available to consumers and the swing away from cash is only now starting to stabilise in, for instance, the durable and semi-durable market," the firm said.

Read more at FIN24.co.za

Shoprite sees H1 earnings up 25-35 pct

Africa's largest grocery retailer Shoprite said on Wednesday it expected first-half diluted headline earnings per share (EPS) on continued operations to rise between 20-30 percent.

Shoprite said it expected both basic and diluted EPS and headline EPS on all operations for the six months to end-December to be between 25-35 percent higher.

Last month, Shoprite said first-half sales rose 14.7 percent to 19.1 billion rand.

The firm said sales at its non-South African stores jumped 29.8 percent in rand terms, boosted by new stores in Angola and Nigeria.

Read more at Reuters South Africa