The mighty Shoprite is struggling
We are disappointed ourselves. We’re not going to make excuses…Pieter Engelbrecht, CEO - Shoprite
Shoprite on Tuesday released somewhat disappointing interim results for the half year to 31 December 2018.
Sales barely increased, rising by 0.2% to R75.8 billion.
Trading profit is down 19% to R3.3 billion.
Earnings (before interest, tax and depreciation and amortisation) fell by 12.2% to R4.7 billion.
Diluted headline earnings per share decreased by 24.1% to 398.5 cents.
The company declared a dividend of R1.56 a share.
Shoprite is Africa’s largest retailer.
It employs 146 000 people.
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This article first appeared on 702 : The mighty Shoprite is struggling
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