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Johannesburg - The Spar Group [JSE:SPP] said on Wednesday it has increased sales by 16.9% from R21.9bn to R25.6bn for the 13-week trading quarter ended 31 December 2016 over the comparable period in 2015.
Group sales in South Africa increased by 5.8%, which were adversely impacted by a slow-down in the building materials business. Excluding the Build It business, the group sales increased by 6.2%, with internally measured price inflation of about 8.3%.
The group's liquor sales remained robust in South Africa, with sales growth exceeding 11.3%. Spar retail sales grew by 6.1% with sales in comparable stores up by 5.2%.
The group's Irish business recorded good festive season trading and solid growth across all retail brands. In constant euro-currency terms, this business increased turnover by 1.5%.
However, the impact of both the significant sterling weakness and the strengthened rand resulted in negative reported sales growth of -2.6%.
The group also recognised the first quarter of 2016 sales performance of the Swiss business, Spar Holding, for the first time. This business was acquired with effect from April 2016.
Trading remains difficult in this market but the group said it remains optimistic that the work being done at retail level will improve the results.
Shareholders are advised that the financial information contained in this announcement has not been audited, reviewed or reported on by the group's auditors. The financial results for the six months ending 31 March 2017 will be released on Sens on or about Wednesday, 31 May 2017.
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