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Panic buying, discount shoppers lift South African Shoprite's annual earnings

Published 08/09/2020, 06:30
Updated 08/09/2020, 06:36
© Reuters.

JOHANNESBURG, Sept 8 (Reuters) - South African supermarket
chain Shoprite Holdings SHPJ.J reported a 2.5% rise in
full-year earnings on Tuesday, helped by panic buying just
before coronavirus lockdown and as shoppers turned to its
discount unit Usave.
Diluted headline earnings per share (HEPS) from continuing
operations rose to 765.8 cents in the year ended June 28
compared with a restated figure of 746.9 cents a year earlier.
HEPS strips out certain one-off items and is the main profit
measure used in South Africa.
Shoprite also declared a final dividend of 227 cents per
share.

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