The Shoprite share price touched an all-time high of R263 in early trade on Monday before easing back to close at R256.99 just as the group announced interim results and a 14.2% hike in diluted headline earnings per share to 525.2c. An interim dividend of 205c a share was declared, up 13.9% on the previous interim period. A strong showing from the South African supermarkets underpinned the 6.3% increase in turnover to R75.8bn in the six months to December 31 2017. On a like-for-like basis turnover was up 2% and follows a hefty 14% increase in the corresponding 26 weeks of its 2017 financial year. South African supermarkets reported increased turnover of 7.8%, equivalent to 3.5% on a like-for-like basis. CEO Pieter Engelbrecht said the South African performance was boosted by the continued success of the increased focus on Checkers’ high-end customers. The group increased its market share in SA by 0.44 percentage points. However turnover of the non-RSA supermarkets declined 0.4% from...
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