JSE-listed Spar’s latest full-year results fell short of market expectations and saw its share price slide almost 13% on Wednesday to close at R144.10. At the beginning of November last year , Spar stood at around R200 a share. Spar share price over the past year The grocery wholesale and distribution group reported a decrease in full-year earnings per share of 4.9% to 1 18.2 cents, while diluted headline earnings per share fell 2.9%, to 1 159.1 cents.
Pick n Pay posts strong double-digit HY profit growth “What was certainly bad for me was that [Spar’s] South African operations appeared to be very weak again. Its sales growth in South Africa appeared to be very weak when you compared them to Pick n Pay and Shoprite, it was very poor,” says Abraham.