| Shoprite Holdings Limited: Reviewed results for the 52 weeks ended 30 June 2024 and cash dividend declaration.
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Core South African supermarkets segment adds R21.4 billion in sales for 2024
- Group revenue increased by 12.0% to R246.1 billion
- Group sale of merchandise increased by 12.0% to R240.7 billion
- Core business, Supermarkets RSA, sale of merchandise increased by 12.3% to R195.0 billion
- Group trading profit increased by 12.4% to R13.4 billion
- Diluted headline earnings per share (DHEPS) increased by 7.4% to 1 245.2 cents (2023: 1 159.4 cents)
- Adjusted diluted headline earnings per share increased by 10.3% to 1 273.2 cents (2023: 1 154.4 cents)
- Excluding the impact of hyperinflation*, Group sale of merchandise increased by 12.0% to R240.8 billion and DHEPS increased by 6.0% to 1 238.7 cents
- Full year dividend per share increased by 7.4% to 712 cents (2023: 663 cents)
Inclusive of a net new 73 OK Franchise stores, the Group opened a net of 292 stores and created 6 490 new jobs
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| Pieter Engelbrecht, Chief Executive Officer:
It is my privilege to present results that aptly reflect a year in which we remained focused on our business and what we stand for – being best-priced, in-stock, solution-driven and customer-led. Our 12.0% increase in Group sales equates to our core South African supermarkets customers spending R21.4 billion more with us this year. During a time when customers are incredibly pressured, this is the greatest reward for our efforts which come as a result of best-in-class execution, innovation and an unwavering dedication to serve. Growth of this nature, in a highly competitive market and from a high base can only be achieved as a result of across-the-board commitment. With this in mind, my sincere thanks are extended to Team Shoprite for their continued dedication to our customer base which numbers more than 30 million across South Africa, not including the nine other African countries throughout which we operate our food retail operations. |
| Checkers and Checkers Hyper’s 12.3% sales growth reflects its customer focus, value positioning, culture of continuous improvement and commitment to serve. A busy year evidenced by 26 new stores and 12 store upgrades. Ongoing advances in fresh and private label development, together with market leading execution from Checkers Sixty60 all reflect the brand’s commitment to its 12 million Xtra Savings rewards customers. |
| Shoprite and Usave meet the needs of the Group’s core customer base in the price sensitive market. Collectively this year, not including our Shoprite and Checkers LiquorShop business which increased sales by 20.0%, Shoprite and Usave increased sales from a base of R90.0 billion last year by 10.7%. This equates to an additional spend of R9.6 billion in stores this year. Individually Shoprite, our price-fighting, full-range supermarket increased sales from a substantial rand value by 10.3% and Usave, our limited assortment discount supermarket increased sales by 13.2%.
Our core customer base remains front and centre in our business, keeping us on point to deliver the lowest prices and maintain our in-stock positions. As a result of our brand segmentation strategy, Shoprite and Usave meet the needs of their customers in different ways, however their shared operational structure facilitates best in-class execution to meet the high-volume demands required at differing peak times for each. |
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Shoprite Holdings Limited |
