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Cape Town - Retailer Shoprite Holdings [JSE:SHP] increased its turnover over the past year, growing 10.5% to about R102.2bn.
The group increased its total turnover for the 12 months to June 2014, compared to the corresponding 12 months of 2013.
Growth on a like-for-like basis was 5.1%.
Shoprite saw an improved turnover growth of 11.4% in the second half of the year, compared to 9.7% in the first half. The continued pressure on consumers' disposable income reflects in the slowdown in sales in the supermarket division, the largest division in the group, which grew sales by 8.7%.
The turnover of the 169 supermarkets the group operates outside South Africa's borders rose by 26.8%, compared to the 2013 reporting period. Taken at constant currencies, these operations grew by 16.2%.
The furniture division grew turnover by 12.2%, even though the highly competitive market conditions remained unchanged.
The group increased its total turnover for the 12 months to June 2014, compared to the corresponding 12 months of 2013.
Growth on a like-for-like basis was 5.1%.
Shoprite saw an improved turnover growth of 11.4% in the second half of the year, compared to 9.7% in the first half. The continued pressure on consumers' disposable income reflects in the slowdown in sales in the supermarket division, the largest division in the group, which grew sales by 8.7%.
The turnover of the 169 supermarkets the group operates outside South Africa's borders rose by 26.8%, compared to the 2013 reporting period. Taken at constant currencies, these operations grew by 16.2%.
The furniture division grew turnover by 12.2%, even though the highly competitive market conditions remained unchanged.
