Angolan inflation dampens Shoprite’s performance, Christo Wiese to loosen grip

PUBLISHED: Tue, 26 Feb 2019 15:53:03 GMT

One of Africa’s largest retailers, Shoprite, is reporting major decreases in profit, HEPS and EBITDA. The food retailer was severely knocked by sudden hyperinflation in Angola. The company declared a dividend of 156 cents a share. Diluted headline earnings per share were down 24.1 per cent to 398.8 cents a share. Pieter Engelbrecht, CEO, Shoprite joins CNBC Africa for more….

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