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Unaudited Results for the 26 weeks ended 31 December 2023 and Cash Dividend Declaration
SHOPRITE HOLDINGS LIMITED
(Reg. No. 1936/007721/06)
(ISIN: ZAE000012084)
(JSE Share code: SHP)
(A2X Share code: SHP)
(NSX Share code: SRH)
(LuSE Share code: SHOPRITE)
("the Group")
Unaudited results for the 26 weeks ended 31 December 2023 and
cash dividend declaration
Pieter Engelbrecht, Chief Executive Officer:
The Shoprite Group's results for the period under review reflect the
business's incredible dedication to our customers whose support of our
operations, both in-store and online via our Checkers Sixty60 app has
resulted in us extending our market share gains in our core South African
supermarket business. The 14.6% increase in sales from our core business
segment equates to R12.4 billion in additional customer spend with us on the
same period last year. Despite reporting against an exceptionally high base
of sales growth of 17.5% for the same period last year, the 14.6% increase
in sales for this interim period compares admirably to the rest-of-market
growth in South Africa, per NielsenIQ, for the same period of 7.6%.
Checkers and Checkers Hyper's 13.7% sales increase is a result of unwavering
execution of the brand's clear value proposition, continued store upgrades
and advances in the areas of fresh, private label and on-demand execution by
Checkers Sixty60, which increased sales by 63.1% over the six months.
Shoprite and Usave increased sales by 13.1%. Shoprite, with the inclusion of
51 stores acquired from Massmart Holdings Ltd, increased sales by 13.2%
while Usave, our limited assortment discounter, increased sales by 12.3%.
While the operating context in South Africa remains challenging and costly,
especially taking into consideration the ongoing cost of diesel generators
during load-shedding, we are most pleased to report increase in profits and
dividends for the period.
The Group continues to invest in the business on a number of fronts: tech
and digital, supply chain, stores and of course, people. Over the six months
we added a net of 197 new stores to total 3 543 stores and as a Group our
commitment to employment growth resulted in the creation of 2 617 new jobs.
The well-known African proverb 'it takes a village' is no understatement at
Shoprite today as we strive to meaningfully improve the lives of millions of
people on a daily basis. My sincere thanks to Team Shoprite, our base of
close to 161 000 employees; the Group's customer base who number 29 million
in South Africa alone and our many stakeholders including our valued
suppliers and SMME partners. As a Group we are authentically purpose led in
all that we do and I am incredibly proud of how our collective efforts are
increasingly borne out not just in our results but in the difference we make
to the lives of our people and customers every day.
Restated*
Change 31 Dec 1 Jan
Key information - continuing operations % 2023 2023
Sale of merchandise (Rm) 13.9 121 079 106 276
Trading profit (Rm) 10.7 6 660 6 016
Operating profit (Rm) 8.1 6 720 6 214
Profit before income tax (Rm) 3.8 4 921 4 742
Income tax expense (Rm) 2.8 1 517 1 475
Profit for the period (Rm) 4.2 3 404 3 267
Attributable to owners of the parent (Rm) 3 412 3 254
Attributable to non-controlling interest (Rm) (8) 13
Headline earnings per share (cents) 7.3 624.0 581.3
Basic earnings per share (cents) 4.6 627.2 599.5
Dividend per share (cents) 7.7 267.0 248.0
Profit for the period including discontinued
operations (Rm) 6.4 3 331 3 130
Attributable to owners of the parent (Rm) 3 339 3 117
Attributable to non-controlling interest (Rm) (8) 13
Headline earnings per share including
discontinued operations (cents) 8.6 610.5 562.3
Basic earnings per share including discontinued
operations (cents) 6.9 613.7 574.3
* Restated for the adoption of IFRS 17: Insurance Contracts.
Declaration of ordinary dividend
The Board has declared an interim dividend of 267 cents (H1 2023: 248 cents)
per ordinary share, payable to shareholders on Tuesday, 2 April 2024.
The dividend has been declared out of income reserves. The last day to trade
cum dividend will be Monday, 25 March 2024. As from Tuesday, 26 March 2024,
all trading of Shoprite Holdings Ltd shares will take place ex dividend.
The record date is Thursday, 28 March 2024. Share certificates may not be
dematerialised or rematerialised between Tuesday, 26 March 2024, and
Thursday, 28 March 2024, 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 267 cents per share for shareholders
exempt from paying Dividends Tax and 213.6 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 interim financial statements and does not contain
full or complete details. Any investment decisions by investors and/or
shareholders should be based on consideration of the condensed consolidated
interim financial statements as a whole.
The condensed consolidated interim financial statements have been
released on the JSE at
https://senspdf.jse.co.za/documents/2024/jse/isse/SHP/ie2024.pdf
and are also available for viewing at
https://www.shopriteholdings.co.za/docs/int2024-mar2024.pdf. Copies of the
condensed consolidated interim 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
5 March 2024
Sponsor: Nedbank Corporate and Investment Banking, a division of
Nedbank Limited
Date: 05-03-2024 08:00:00
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