Alcohol and other drugs bring home the bacon for Spar

Spar on Wednesday reported a 1.4% increase in headline earnings per share to 965.7 cents for the year to 30 September 2018.

Headline earnings came in at R1.859 billion.

The JSE-listed company declared a dividend of 729 cents per share, an 8% increase on the year before.

Ireland (1371 stores) was Spar’s top performer, but profits in Switzerland (315 stores) is down.

Overall turnover is up 6% to R103 billion.

Alcohol turnover grew by 13% while turnover of pharmaceuticals was up 13.4%.

Spar has 2236 stores in South Africa.

The Money Show’s Bruce Whitfield interviewed Spar Group CEO Graham O'Connor.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

Our guys… are firing the retailers [in Switzerland] up… To see the change in culture in the business is absolutely remarkable… They responded well…

Graham O'Connor, Spar Group

Tops was outstanding… an exciting brand… advertising to younger people and females have been well received…

Graham O'Connor, Spar Group

Our President has done a fantastic job of eradicating corruption and trying to get employment on the cards…

Graham O'Connor, Spar Group

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