• Inside Labour

    Away with empty rhetoric and slogans - labour needs to focus on real issues, says Terry Bell.

  • Wrap-up: Davos insights

    Alec Hogg speaks about the top three issues at this year's World Economic Forum.

  • Netflix and SA video

    Much of Netflix's potential impact on SA has already been made, says Arthur Goldstuck.

Loading...
See More

Spar tumbles as earnings disappoint

Nov 14 2012 12:30 Reuters & I-Net Bridge

Company Data

THE SPAR GROUP LIMITED [JSE:SPP]

Last traded 0
Change 0,81
% Change 0
Cumulative volume 655138
Market cap 32.16bn

Last Updated: 30-01-2015 at 04:39. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Spar full-year profit lags consensus

Massmart eyes fresh produce supplier

Cost control nightmare

Spar reports flat profits

Zim wins massive steel deal

Spar looking to expand in Africa

 
Johannesburg - Shares of Spar Group [JSE:SPP] tumbled 3.2% to R122.88 after the supermarket chain reported full-year earnings that fell short of market expectations.

Spar says diluted headline earnings rose 9.3% in the year to end-September, to 571 cents per share.
 
That missed market expectations by nearly 5%, according to a poll of 12 analysts by Thomson Reuters, which had forecast a result of 598 cents per share.
 
The results represent Spar's biggest earnings surprise since the year to September 2008, when its earnings beat Thomson Reuters estimates by nearly 8%.

“Trading for the year under review was impacted by an unsettled political and labour scenario‚ consumer spending still under some pressure and a highly competitive food retail environment. The group has‚ nevertheless‚ produced a solid set of financial results for the year‚” Spar said in a statement.

Revenue grew to R43.5bn from the previous period’s R38.8bn and turnover increased 12.2% to R43.2bn.

“Spar retailers again performed well with retail turnover of R53.7bn up 11.5%‚ which drove wholesale turnover up by 11.0% to R35.5bn‚” it said.

The group declared an annual dividend of 430 cents per share‚ a 14.1% rise from the previous period’s dividend.

Spar expects trading conditions to continue to be subdued with low economic growth forecast and consumer spending remaining under pressure.

“The consumer is likely to be further affected by rising food prices forecast in the 2013 financial year‚” Spar said.
spar

NEXT ON FIN24X

 

Latest Articles

Fun and inexpensive things to do with the kids Read More...
8 simple ways to earn extra money Read More...
6 motivational tips to help you save this year Read More...
Invest for Income Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...