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SHP/SRH - Shoprite Holdings Limited - Trading update at annual general meeting

Release Date: 29/10/2007 09:00
Code(s): SHP
Wrap Text

SHP/SRH - Shoprite Holdings Limited - Trading update at annual general meeting SHOPRITE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1936/007721/06) ISIN no: ZAE000012084 JSE share code: SHP NSX share code: SRH LuSE share code: SHOPRITE ("the Group") TRADING UPDATE AT ANNUAL GENERAL MEETING The Shoprite Group continued to grow turnover satisfactory for the 3-month period to September 2007. Although turnover grew at 25.9% it must be seen against the national industrial action during the previous corresponding period. Caution should therefore be exercised not to project the same turnover increase over the next three months. The Group is satisfied with its African operation where turnover grew by 33.8% for the 3 months. Sales in OK Furniture were slower than normal with a turnover increase of 8.4% mainly as a result of higher interest rates and the introduction of the National Credit Act. Market share lost in the previous year as a result of the industrial action has been regained. The Management of the Group expect good sales over the Christmas period. Cape Town 29 October 2007 Sponsor Nedbank Capital Date: 29/10/2007 09:00:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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