SHOPRITE HOLDINGS LIMITED - Group results for the 52 weeks to 3 July 2022

Group results for the 52 weeks to 3 July 2022

SHOPRITE HOLDINGS LIMITED
(Reg. No. 1936/007721/06)
(ISIN: ZAE000012084)
(JSE Share code: SHP)
(NSX Share code: SRH)
(LuSE Share code: SHOPRITE)
("the Group")


Group results for the 52 weeks to 3 July 2022


Pieter Engelbrecht, Chief Executive Officer

We are proud of our 2022 results especially considering our high base, the 
additional week included in our reporting calendar last year and the 
headwinds presented by a challenging local and global context. 

On a 52-week basis our customers spent an additional R19.6 billion with us 
this year. This growth equates to R6.2 billion in South African market share 
gains for the period. My heartfelt thanks to our millions of customers for 
their continued support and to Team Shoprite, our people, for their world 
class execution and continued dedication to our business. 

Our core South African supermarket segment (80.0% of Group sales) increased 
sales by 10.1% (12.6% on a 52-week base). Shoprite and Usave which make up 
52.8% of this segment increased sales by 7.2%. Despite having two large 
format Checkers Hypers still closed due to the July 2021 social unrest, our 
Checkers and Checkers Hyper supermarket business, which makes up 39.8% of 
our core RSA segment increased sales by 9.1%. Our Shoprite and Checkers 
LiquorShop business, 7.2% of the segment's sales, increased sales by 44.5%. 
This is due to strong underlying growth and the fact that the business was 
closed for less days this year than last year, due to Covid-19 regulations.  

In terms of price and value execution our Shoprite and Checkers Xtra Savings 
Rewards Programme saved our 24.7 million loyal members a tremendous 
R9.4 billion this year. 

In terms of accessibility for our customers our community based Usave 
business increased sales by 11.4% and our on-demand one-hour delivery app 
Checkers Sixty60 continued to innovate and grow its sales despite its 
incredible growth trajectory over the past few years. 

Our 2022 full year dividend increased by 10.3% this year. In recognition of 
the contribution made by our people we established the Shoprite Employee 
Trust during the year. Added to this we've continued with our share buy-back 
programme and advanced our proposed acquisition of Cambridge Food, Massfresh 
and Masscash Cash and Carry to the Competition Tribunal approval stage. We 
have much to do in terms of executing our strategy to grow the business in 
the years ahead, this is just one of our initiatives and we look forward to 
reporting on our progress on this and our other plans during 2023.

                                              Change    52 weeks   53 weeks
Key information - continuing operations            %        2022       2021

Sale of merchandise (Rm)                         9.6     184 078    168 030 
Trading profit (Rm)                              6.8      11 030     10 332 
Operating profit (Rm)                           11.8      10 807      9 664 
Profit before income tax (Rm)                   19.1       8 286      6 957 
Income tax expense (Rm)                         14.1       2 556      2 241 
Profit for the year (Rm)                        21.5       5 730      4 716 
  Attributable to owners of the parent (Rm)                5 701      4 698 
  Attributable to non-controlling interest (Rm)               29         18 
Basic headline earnings per share (cents)       10.3     1 055.0      956.3
Basic earnings per share (cents)                22.9     1 046.5      851.6
Dividend per share (cents)                      10.3       600.0      544.0

Profit for the year including discontinued 
operations (Rm)                                 18.1       5 740      4 859 
  Attributable to owners of the parent (Rm)                5 711      4 841 
  Attributable to non-controlling interest (Rm)               29         18 
Basic headline earnings per share including 
discontinued operations (cents)                  8.1     1 056.3      977.1
Basic earnings per share including discontinued
operations (cents)                              19.5     1 048.3      877.5

Declaration of ordinary dividend

The Board has declared a final dividend of 367 cents (2021: 353 cents) per 
ordinary share, payable to shareholders on Monday, 3 October 2022. The 
dividend has been declared out of income reserves. This brings the total 
dividend for the year to 600 cents (2021: 544 cents) per ordinary share. 
The last day to trade cum dividend will be Tuesday, 27 September 2022. 

As from Wednesday, 28 September 2022, all trading of Shoprite Holdings Ltd 
shares will take place ex dividend. The record date is Friday, 30 September 
2022. Share certificates may not be dematerialised or rematerialised between 
Wednesday, 28 September 2022, and Friday, 30 September 2022, both days 
inclusive.

In terms of the Dividends Tax, the following additional information is 
disclosed:

1. The local dividend tax rate is 20%.
2. The net local dividend amount is 367 cents per share for shareholders
   exempt from paying Dividends Tax and 293.6 cents per share for
   shareholders liable to pay Dividends Tax.
3. The issued ordinary share capital of Shoprite Holdings Ltd as at the 
   date of this declaration is 591 338 502 ordinary shares.
4. Shoprite Holdings Ltd's tax reference number is 9775/112/71/8.


About this announcement

This short-form announcement is the responsibility of the Directors of 
Shoprite Holdings Ltd. It is only a summary of the information in the 
condensed consolidated financial statements and does not contain full or 
complete details. The condensed consolidated financial statements for the 
year ended 3 July 2022 have been reviewed by Shoprite Holdings Ltd's 
external auditors who have reached an unmodified review conclusion. Any 
investment decisions by investors and/or shareholders should be based on 
consideration of the condensed consolidated financial statements published 
on the Stock Exchange News Service (SENS) and www.shopriteholdings.co.za as 
a whole.

The condensed consolidated financial statements have been released on the 
JSE (https://senspdf.jse.co.za/documents/2022/jse/isse/SHP/ye2022.pdf) and 
are also available for viewing at 
https://www.shopriteholdings.co.za/content/dam/SENS/YE2022-Sep2022.pdf. 

Copies of the condensed consolidated financial statements may be requested 
from the Company Secretary (cosec@shoprite.co.za, tel +27 (0)21 980 4284) 
at PO Box 215, Brackenfell, 7561, South Africa.

By order of the Board

WE Lucas-Bull                 PC Engelbrecht
Chairman                      Chief Executive Officer

Cape Town

6 September 2022


Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank
Limited


Date: 06-09-2022 07:45:00
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