South Africa's SPAR Group rises on Polish unit sale approval

Spar

21/11/2024 15:24

** Grocery retailer SPAR Group's  SPPJ.J  shares rise 3.98%
to 135 rand at 1454 GMT 
    ** Co says sale of loss-making Polish unit approved by the
Polish anti-monopoly authorities, marking the end of a costly
venture 
    ** Company expects full-year HEPS from continuing ops to
rise between 6% and 16%, up from 826 cents a year ago
    ** Says group net debt reduced by 2 billion rand to 9.1
billion rand ($505 million) from 11.1 billion rand.
    ** As at Sept. 30, the retailer was not in breach of any
financing covenants 
    ** Stock is second best performer among retail peers on the
All-Share index  .JALSH 
    ** SPAR shares up 15.5% YTD
    


($1 = 18.0035 rand)

 (Compiled by Sfundo Parakozov)