Shoprite interim results December 2012
Sale of merchandise grew 13.81% to R46.7 billion (R41.1 billion) whilst gross profit increased by 17.06% to R9.6 billion (R8.2 billion). Operating profit was 13.21% higher at R2.5 billion (R2.2 billion). Profit attributable to owners of the parent rose 19.58% to R1.7 billion (R1.4 billion). Furthermore, headline earnings per share were greater at 315.9 cents per share (280.8 cents per share).
The board has declared an interim dividend of 123 cents (2012: 109 cents) per share.
Group prospects and outlook
The economic conditions which defined the trading environment in South Africa in the first six months are expected to persist for at least the rest of the financial year as there are no indications that the cost pressures on consumers will ease in the short term. However, the board is confident that with the group's aggressive expansion programme, supported by the increasing benefits flowing from its sophisticated supply line, it will be able to maintain its present growth and profitability. Outside South Africa the group's operations are expected to maintain its upward curve as new stores come on stream and consumers flock in increasing numbers to its stores.