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South Africa's Shoprite posts surprise drop in FY profit
JOHANNESBURG, Aug 21 (Reuters) - South Africa's Shoprite
reported a surprise 3.8 percent fall in annual earnings
on Tuesday, citing currency devaluation in Angola.
Africa's biggest grocery store chain reported diluted
headline earnings per share (EPS) of 968.7 cents in the year
ended June versus a 1,090 cents estimate in a poll of 10
analysts by Thomson Reuters' I/B/E/S.
Headline EPS, the most widely watched profit gauge in South
Africa, strips out certain one-off items.
Sales of the Cape Town-based company rose 3.1 percent to
145.3 billion rand ($9.93 billion).
($1 = 14.6363 rand)
(Reporting by Nqobile Dludla)
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