South African grocer SPAR posts 11% rise in annual profit

Spar

28/11/2024 06:35

JOHANNESBURG, Nov 28 (Reuters) - South Africa's
second-biggest supermarket retailer SPAR Group  SPPJ.J  on
Thursday reported an 11.1% rise in annual profit, amid a trading
environment marred by inflationary pressures.
    The company reported a headline earnings per share, the main
profit measure in South Africa, of 917.9 cents for the year
ended Sept. 30, up from 826.0 cents posted a year earlier.
    "The operating environment across our territories continues
to be challenging with ongoing inflationary pressures in food,
fuel and energy," the company, which also has operations in the
United Kingdom and Ireland, said in a statement.
    But these pressures are showing signs of easing in some
areas, SPAR added.
    The company, which sold its loss making Polish business in
September, did not declare a dividend for the year.

($1 = 18.2149 rand)

 (Reporting by Sfundo Parakozov; Editing by Tannur Anders and
Himani Sarkar)
 ((Sfundo.Parakozov@thomsonreuters.com;))