Shoprite Rides The Wave Of Economic Growth

South African retail group Shoprite, the country's third largest mass grocery retail (MGR) operator has reported a 26% rise in first half diluted headline earnings. Turnover grew by 14.9% to ZAR19.1bn (US$2.8bn), boosted by the opening of 40 new stores. The company operates supermarkets under the Shoprite and Checkers banners, as well as Checkers hypermarkets, USave discount stores and various other non-food retail businesses. Supermarkets operations, which currently account for 79% of total turnover, experienced a sales increase of 13.9% to ZAR15.1bn (US$2.2bn). The company said that it expects this healthy growth to continue through to the second half of

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