Shoprite powers ahead in tough conditions
The good news includes a 12% rise in diluted headline earnings and a 11.5% increase in dividends, as well as 4,000 jobs created
Shoprite’s result for the financial year to July 2 contained good news for everyone except its competitors. For management and shareholders, the good news included a 12% rise in diluted headline earnings and a 11.5% increase in dividends. For an economy battered daily by reports of job losses, the good news was that Shoprite created 4,000 jobs, securing its position as the largest private-sector employer in SA with more than 140,000 employees, according to Shoprite chairman Christo Wiese. He said he was proud of the fact that despite operating in a depressed economy the company was still creating thousands of jobs every year. "We can rightfully claim to be a world-class company." If you are already a subscriber, please click on the following link below to go to the full article: Shoprite continues to defy tough conditions If you would like to subscribe to BusinessLIVE Premium to read the full story, please click here to subscribe. * Premium content is not yet available on the app....
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