Shoprite records rise in profit as South Africa stores prove resilient

Pieter Engelbrecht, Chief Executive Officer, Shoprite

Shoprite Holdings Ltd. reported full-year earnings in line with analyst estimates as Africa’s largest food retailer boosted market share in South Africa ahead of a partial tie-up with clothing and furniture specialist Steinhoff International Holdings NV. According to Bloomberg’s report, headline earnings per share, which exclude one-time items, rose 12 percent to 10.07 rand in […]

Wal-Mart’s comparable sales rise for 12th straight quarter

Wal-Mart Stores Inc reported its 12th consecutive rise in quarterly comparable sales Thursday, driven by an increase in the number of shoppers who visited stores and made purchases online. Sales at U.S. stores open at least a year rose 1.8 percent, excluding fuel, in the second quarter ended on July 31. Analysts polled by research […]

Presco reports Q2 2017 results; sales up by 30.4% YoY

Presco reported its Q2 2017 results this afternoon showing sales growth of 30.4% y/y to N5.7bn. Similarly, PBT and PAT increased by 10.1% y/y and 2.5% y/y respectively. The topline growth surprised slightly. The company continued to benefit from increased demand following encouraging government policy on crude palm oil imports. This has also given it […]