Africa’s largest grocer Shoprite Holdings on Tuesday released its results for the six months to December 2015, showing a stunted 8.8 percent growth in sales from 13 percent a year earlier.
But the retail giant, whose sales figures are said to be closely watched as an indicator of the health of the South African economy, said it managed to increase sales in South Africa by 7.2 percent following an improved second quarter driven by good festive season trading.
“For the six months to December 2015 the Shoprite Group increased turnover by 8.8 percent from R57.5 billion to about R62.5 billion,” Shoprite said in a statement at close of business on Tuesday.
Shoprite Holdings owns food and household goods retail shops including Shoprite, Checkers, Usave and OK Furniture.
The Group’s furniture division grew sales 13.7 percent for the period, with the OK Furniture brand the best performer.
The Group’s non-South African supermarkets recorded sales growth of 15.2 percent, notwithstanding the impact of lower commodity prices and the devaluation of certain currencies.