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.

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