‘People drink when times are bad. They drink even more when times are good!’

Picture: www.spar.co.za

Spar on Wednesday reported a 5.3% increase in revenue to R5.094 billion for the six months to 31 March 2018.

Turnover grew by 5% to R5.0026 billion.

Headline earnings per share increased by 13.8% to 541.2 cents.

Diluted headline earnings per share increased by 14.1% to 538.5 cents.

Spar Group declared a 12.5% higher dividend of 270 cents per share.

Sales were boosted by an earlier Easter.

Significantly lower internally measured food inflation and the impact of the listeriosis outbreak, however, muted the results somewhat.

The Money Show’s Bruce Whitfield interviewed Spar Group CEO Graham O'Connor.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

The forecourt format has taken off… We followed suit, and we’ve picked a really good partner with Shell.

Graham O'Connor, Spar Group

70% of our business is in South Africa…

Graham O'Connor, Spar Group

We opened our first store in Sri Lanka a month ago…

Graham O'Connor, Spar Group

As far as Tops go, certainly, when times are bad people have a drink and when times are good even more… the Spar liquor business has been outstanding.

Graham O'Connor, Spar Group

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This article first appeared on 702 : ‘People drink when times are bad. They drink even more when times are good!’


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