Johannesburg - Africa's biggest grocer Shoprite posted slightly faster first-half profit growth on Tuesday, as debt-laden consumers took advantage of lower fuel prices and a price war between supermarket chains.
Shoprite, which focuses on staple products for low-income and working-class consumers, said diluted headline EPS rose 8.6% to 370.2 cents in the six months to the end of June, slightly faster than an 8% growth achieved a year earlier.
Headline EPS, the widely watched profit measure in South Africa, strips out certain one-off items.