The mighty Shoprite is struggling

Picture: Supplied

We are disappointed ourselves. We’re not going to make excuses…

Pieter Engelbrecht, CEO - Shoprite

Shoprite on Tuesday released somewhat disappointing interim results for the half year to 31 December 2018.

Sales barely increased, rising by 0.2% to R75.8 billion.

Trading profit is down 19% to R3.3 billion.

Earnings (before interest, tax and depreciation and amortisation) fell by 12.2% to R4.7 billion.

Diluted headline earnings per share decreased by 24.1% to 398.5 cents.

The company declared a dividend of R1.56 a share.

Shoprite is Africa’s largest retailer.

It employs 146 000 people.

The Money Show’s Bruce Whitfield interviewed Pieter Engelbrecht, CEO at Shoprite.

Listen to the interview in the audio below.

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
 Wealth strategies for small businesses - income or equity?

Wealth strategies for small businesses - income or equity?

Income or equity – what is the difference?

Is the US stock market heading for a crash like the DotCom bubble in 2000?

Is the US stock market heading for a crash like the DotCom bubble in 2000?

The US market has a big impact on all markets and when they get flu, South Africa sneezes.

Anglo American delivers 3.5-billion USD profit, declares final dividend

Anglo American delivers 3.5-billion USD profit, declares final dividend

Anglo American delivered a 2019 profit attributable to equity shareholders of 3.5-billion USD

Discovery Bank gives an update on the health of the new venture

Discovery Bank gives an update on the health of the new venture

Discovery is soothing investors' nerves after a warning earlier this week that it would report a double digits loss.

Meet the Black Management Forum's New President

Meet the Black Management Forum's New President

The newly elected president of the Black Management Forum (BMF) is Andile Nomlala.

Foreigners rule informal trading (outcompeting even Shoprite). Consumers win!

Foreigners rule informal trading (outcompeting even Shoprite). Consumers win!

About 20% of every rand spent in South Africa goes to informal stores, mostly foreign-run. GG Alcock on his book “KasiNomics".

Popular articles
Investigating SA's captive lion breeding industry and the lion bone trade

Investigating SA's captive lion breeding industry and the lion bone trade

Richard Peirce discusses his documentary 'Lions, Bones & Bullets', which follows the trade to the Far East.

'I think govt exists for the most vulnerable' - Midvaal mayor Bongani Baloyi

'I think govt exists for the most vulnerable' - Midvaal mayor Bongani Baloyi

Baloyi became SA's youngest mayor in 2013. He talks about 'being born into politics' and the principles that guide him.

No load shedding expected on Sunday says Eskom

No load shedding expected on Sunday says Eskom

Load shedding has been suspended for Sunday, but the system remains 'unpredictable'.

Open day season: How to choose the best school for your child

Open day season: How to choose the best school for your child

Parenting expert Nikki Bush has valuable pointers on what to keep in mind when matching your child to a school.

Zuma returns from Cuba, addresses 'hundreds' of supporters

Zuma returns from Cuba, addresses 'hundreds' of supporters

Former president Jacob Zuma arrived at OR Tambo International where supporters waited to give him a hero's welcome.

[WATCH LIVE] Joseph Shabalala's funeral service underway in Ladysmith

[WATCH LIVE] Joseph Shabalala's funeral service underway in Ladysmith

The music icon and Ladysmith Black Mambazo founder is being laid to rest in his home town in KwaZulu-Natal.

Load shedding to be suspended at 5pm, resumes on Sunday

Load shedding to be suspended at 5pm, resumes on Sunday

Eskom says 'improved generation system performance' will allow it to suspend load shedding at 5pm on Saturday.

[WATCH] Ndlovu Youth Choir's moving 'Homeless' tribute to Joseph Shabalala

[WATCH] Ndlovu Youth Choir's moving 'Homeless' tribute to Joseph Shabalala

The Ladysmith Black Mambazo founder will be laid to rest in Ladysmith on Saturday.

'High possibility' of load shedding continuing throughout Sunday

'High possibility' of load shedding continuing throughout Sunday

Stage 2 power cuts are scheduled until 6 am on Sunday, but Eskom says this could be extended.

 'When languages are being let go of in favour of English, we lose identity'

'When languages are being let go of in favour of English, we lose identity'

Joanne Joseph spoke to Play Africa founder and CEO Gretchen Wilson-Prangley on International Language Day.