Spar Group share price rockets off the back of strong results
The Spar Group has reported a 13.5% increase in turnover to R124.3bn for the year ended September 2020.
Spar Southern Africa turnover rose 5.8% to R78.6 billion.
“Although we saw large volume increases for groceries and health and beauty categories, these volumes were largely offset by the loss of liquor and cigarette sales due to the trading ban on these categories.”
Headline earnings rose 0.5% to R2.18bn.
Spar has increased its total dividend for FY20 by 8.1% to 865c per share.
Bruce Whitfield interviews Spar Group CEO, Graham O'Connor.
We were really buoyed by international business.Graham O'Connor, CEO - Spar Group
Ireland was very strong again... In Switzerland... an outstanding result...Graham O'Connor, CEO - Spar Group
In South Africa he says, Spar held its own in tough circumstances.
Despite alcohol and cigarettes not being for sale, our groceries and our fresh produce and our butcheries had very good turnover growth.Graham O'Connor, CEO - Spar Group
The market got bigger because takeaways and restaurants were closed.Graham O'Connor, CEO - Spar Group
We were also fortunate because we had the inside track - our international Spar businesses could tell us what was going on with the pandemic so we were ahead of the curve.Graham O'Connor, CEO - Spar Group
Listen to O'Connor discussing Spar's future plans:
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