JOHANNESBURG (Reuters) – South Africa’s biggest grocer Shoprite Holdings reported a 10.3% increase in annual profit on Tuesday as cash-strapped shoppers looked for value at its discount stores.
Shoprite, with more than 2,400 stores in 11 African countries, said headline earnings per share, the main profit measure in South Africa, rose to 1,055 cents in the 52 weeks to July 3, up from 956.3 cents in the prior year.
The retailer declared a final dividend of 367 cents.
(Reporting by Nqobile Dludla; Editing by Tom Hogue)
