Skip to main content

Spar gets a boost from strong sales at Tops

| Retailer trading results

Despite a tough local market, Spar saw strong liquor sales at its Tops chain.

Spar reported a profit increase of almost 10% (normalised diluted headline earnings per share), and its dividend per share was hiked 9.7% to 800c.

 

Its turnover rose 8% to R109.5bn, with almost a third now in foreign currencies. Spar SA owns businesses in Ireland and Switzerland.

In Southern African business saw turnover growth of 8% in a “tough market that remains highly competitive”.

Local turnover got a boost from strong growth of almost 18% in liquor sales. Spar owns the Tops chain. Its building materials business, Build It, saw turnover growth of almost 7%. Its gross profit margin in Southern Africa dipped slightly to 8.9%.

Prices at its local stores rose by 3.1% over the past year – compared to only 1.4% in the previous year.

In Southern Africa all indicators continue to suggest that consumers will remain under financial pressure, and Spar says construction plans for the previously announced distribution facilities have been placed on hold. It is also not planning any further property acquisitions in the regions.

Its Irish business grew turnover in 6% in euro, while SPAR Switzerland saw a decline of 1.5% in sales in the local currency.

The Irish outlook continues to be influenced by Brexit concerns, however this management team remains cautiously optimistic in both the Irish and South West England regions. The Swiss business remains confident that the identified strategic initiatives to improve the turnover performance are gaining momentum.

 

Pin It

Related Articles

Clicks reports resilient first-half as earnings...

By Jacqueline Mackenzie - Business Live The group expects full-year Heps to increase by between 10% and 15%

Positive growth continues for The SPAR Group

SPAR Group turnover increased by 8.8% for the 24 weeks ended 15 March 2024, with a well-maintained policy of continued capital investment  across the wholesale and retail value chain.

Unaudited results for the 26 weeks ended 31 Dec...

Double-digit growth sees half year sales reaching R121 billion - Group sale of merchandise increased by 13.9% to R121.1 billion - Supermarkets RSA sale of merchandise increased by 14.6% to R97.5 billion - Diluted headline earnin...

Woolies online sales skyrocket — but still weak...

By: Staff Writer - MyBroadband South African fashion, home, and grocery retailer Woolworths saw online sales surge during the first half of its 2024 financial year. For the 26 weeks ending 24 December 2024, online sales in the fashion, beauty an...

Shoprite first-half sales rise 14%

By Andries Mahlangu - BusinessLive Africa’s biggest grocery retailer Shoprite reported robust growth in sales in the six months ended December, with all its various store formats coming to the party save for its furniture business.  It...