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Trading update for the 17 weeks to 26 January 2019
The SPAR Group Limited
(Incorporated in the Republic of South Africa)
Registration number: 1967/001572/06
Share Code: SPP
ISIN: ZAE000058517
(“SPAR” or the “Group”)
TRADING UPDATE FOR THE 17 WEEKS TO 26 JANUARY 2019
HIGHLIGHTS
- Group sales increased by 8.2% to R36.53 billion (the comparative seventeen (17) weeks to 27
January 2018: reported an increase of 7.0%)
- SPAR South Africa Group sales growth of 7.7%
- Core SPAR business sales up 5.7% and like-for-like sales increased 3.8%, with internally
measured price inflation of +1.4%
- Exceptionally strong liquor sales growth of 19.2%
- Build It sales growth of 10.3%, building on the momentum seen in the 2018 financial year
(“FY18”)
- SPAR Ireland increased turnover by 8.4% (euro-denominated)
- SPAR Switzerland turnover down 1.5% (Swiss franc currency terms) reflecting the difficult Swiss
retail environment
GROUP
The SPAR Group increased sales by 8.2% from R33.78 billion to R36.53 billion for the seventeen (17)
week trading period ended 26 January 2019 (“Period”) when compared to the same period for 2018.
SPAR SOUTHERN AFRICA
Group sales in South Africa increased by 7.7%, which included the S.Buys pharmaceutical business
being recognised for the Period. On a like for like basis, the South African Group sales increased by
7.6% reflecting the weak consumer spend. The core SPAR business reported sales growth of 5.7%,
with same store sales increasing by 3.8%. Internally measured price inflation of about 1.4% reflected
the decrease in prices from the previous comparative period as deflation continued to be measured
in a wide range of grocery and perishable items. The liquor business delivered another impressive
performance with growth exceeding 19.2% in a highly competitive retail sector. Building on the
momentum seen in FY18, the Build It business produced strong results with sales growth of 10.3% as
a result of healthy retail growth and improved customer loyalty.
SPAR IRELAND
The Group’s Irish business recorded solid growth across all retail brands and wholesale divisions in a
challenging economic environment. In euro-currency terms, this business increased turnover by
8.4% which also reflected the contributions of the 4 Aces Wholesale and Corrib Foods businesses
acquired during the previous calendar year. Sales growth was 11.5% when combined with a slightly
weakened rand.
SPAR SWITZERLAND
The Group’s Swiss business continued to reflect the negative local market conditions and sales
declined 1.5% in Swiss franc currency terms. This result is still influenced by the strategic disposal of
certain corporate retail stores during the latter part of the previous financial year. The wholesale
division reported a pleasing growth in sales of 4.8% and is more reflective of the SPAR retail
performance. In rand measured terms this business increased turnover by 4.1%. Management
remains satisfied that the implemented strategy continues to show positive results.
Shareholders are advised that the financial information contained in this announcement is the
responsibility of the directors and that it has not been audited, reviewed or reported on by the
Group’s auditors.
The financial results for the six months ending 31 March 2019 will be released on SENS on or about
Wednesday, 15 May 2019.
By order of the Board
12 February 2019
Sponsor
One Capital
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