Retail giant Shoprite today reported record sales of nearly R157 billion for the financial year year ended June 2020.
The company’s CEO Pieter Engelbrecht said the group had produced a strong set of results.
“In a challenging year we are proud to report the Group’s 6.4% increase in
sales to a record R156.9 billion,” Engelbrecht said.
“Despite significant COVID-19 lockdown restrictions restrictions impacting the Group to varying degrees, our core Supermarkets RSA operating segment increased sales by 8.7%, representing a R9.8 billion increase to R122.4 billion. Our Supermarkets Non-RSA continuing operations’ sales declined by 1.4% in rand terms, however, it increased by 6.6% in constant currency terms,” he added.
The group’s shares on the JSE increased more than 9% following the increase of the results – valuing the company at more than R68 billion.