Retailer Shoprite says it generated an additional R8.3 billion in sales versus the corresponding period to increase sales by 10.0% to R91.1 billion for the 26 weeks ending 2 January 2022.. This performance resulted in a trading profit margin of 6.0% compared to the 5.7% trading profit margin reported for the corresponding period, it said. The group’s earnings before interest, tax, depreciation and amortisation increased by 12.9% to R7.9 billion.
This result was achieved in a period which included ongoing Covid-19 lockdown regulations and the impact of unprecedented political and civil unrest in KwaZulu-Natal and Gauteng provinces where 231 of the group’s stores were damaged and a considerable number of adjacent stores in the affected areas were also closed for a period.
Shoprite, the group’s ‘price-fighting supermarket business’ ended the period with 527 stores. Shoprite opened 10 new stores during the six-month period and is on track to open a further 18 by year-end. “The extraordinary growth in sales and profits reported by the group for the first half of our 2022 year is testament to the capable people of Shoprite, united in their commitment to the group’s millions of customers throughout South Africa and Africa,” said Pieter Engelbrecht, chief executive officer.
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