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Shoprite hurt by currency devaluations in Africa

PUBLISHED: Tue, 20 Aug 2019 15:31:58 GMT

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One of Africa’s biggest retailers is reporting a trying year for their core operations. Shoprite’s South African division grew second half sales by 7.4 per cent. Profitability in the rest of Africa also remains a challenge. Basic headline earnings per share fell 19.6 per cent to some 780.8 cents. Joining CNBC Africa for more is Pieter Engelbrecht, CEO, Shoprite Group.


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