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Unaudited results for the 26 weeks ended 29 December 2024 and cash dividend declaration
SHOPRITE HOLDINGS LIMITED
(Reg. No. 1936/007721/06)
(ISIN: ZAE000012084)
(JSE Share code: SHP)
(A2X Share code: SHP)
(NSX Share code: SRH)
(LuSE Share code: SHOPRITE)
("the Group")
Unaudited results for the 26 weeks ended 29 December 2024 and cash
dividend declaration
Pieter Engelbrecht, Chief Executive Officer:
Sales growth over the six months can be attributed to meticulous data-driven
planning and execution, as evidenced by our core Supermarkets RSA segment
housing our three main South African brands, Checkers, Shoprite, and Usave,
increasing sales on the same period last year by R10.2 billion. This
reflects a 10.4% increase in sales, despite a selling price inflation of
only 1.9%, primarily driven by significant volume growth and an increase in
customer visits and average basket spend. Our ecosystem continues to improve
value, merchandise quality and service for our 32 million loyalty-base
customers.
This impressive performance results from a sustained multi-year strategy
focused on business expansion and market leadership. As a multi-brand
platform, our operations allow us to maintain a customer-centric focus,
leveraging our store base and innovative digital solutions to provide
outstanding value and convenience.
Leadership and execution across the Group have been commendable, with
significant projects advancing our long-term objectives. Our technology
team's successful rollout of a new point of sale system across 2 450 stores,
approximately 60 000 work hours, underscores our commitment to retail
advancement. Meanwhile, our Checkers Sixty60 team successfully delivered
millions of orders, whilst replatforming and upgrading the app to include
same-day delivery for general merchandise, enhancing customer satisfaction
ahead of the peak shopping season.
Freshmark, our fresh produce business, has also contributed significantly,
particularly during peak season as customers choose Checkers as their
Discovery Vitality HealthyFood partner. Additionally, our supply chain
improvements, including two new distribution facilities in Gauteng and the
Eastern Cape, enhance our logistics and responsiveness to regional demands.
We maintain our focus on improving customer lives and creating stakeholder
value against a complex global backdrop. Our growth is expected to primarily
come from our three core supermarket brands, targeting increased share of
wallet from distinct customer segments.
To increase our share of wallet, we have expanded our Sixty60 offering to
include over 10 000 general merchandise items as well as enhancing our
adjacent formats such as clothing and pet, where Petshop Science has seen an
impressive 56.9% sales increase. Furthermore, our customer insights platform
Rex and our retail media network, Rainmaker, continue to generate revenues
whilst supporting our retail ecosystem.
We thank our 32 million customers and stakeholders for their support,
highlighting the R1.5 billion returned to shareholders through dividends
owing to these results and the creation of 2 989 new jobs, reinforcing our
status as South Africa's largest private sector employer.
Restated*
Change 29 Dec 31 Dec
Key information - continuing operations % 2024 2023
Sale of merchandise (Rm) 9.6 128 635 117 408
Trading profit (Rm) 13.5 7 348 6 474
Operating profit (Rm) 14.1 7 445 6 524
Profit before income tax (Rm) 8.9 5 213 4 785
Income tax expense (Rm) 6.3 1 600 1 505
Profit for the period (Rm) 10.2 3 613 3 280
Attributable to owners of the parent (Rm) 3 716 3 339
Attributable to non-controlling interest (Rm) (9) (8)
Headline earnings per share (cents) 9.9 662.3 602.8
Basic earnings per share (cents) 10.5 667.9 604.2
Dividend per share (cents) 6.7 285.0 267.0
Profit for the period including discontinued
operations (Rm) 11.3 3 707 3 331
Attributable to owners of the parent (Rm) 3 716 3 339
Attributable to non-controlling interest (Rm) (9) (8)
Headline earnings per share including
discontinued operations (cents) 11.3 679.2 610.5
Basic earnings per share including
discontinued operations (cents) 11.7 685.3 613.7
* Restated for the classification of the Group's furniture business
(excluding Angola and Mozambique) as discontinued operations in
accordance with IFRS 5: Non-current Assets Held for Sale and
Discontinued Operations.
Declaration of ordinary dividend
The Board has declared an interim dividend of 285 cents (H1 2024: 267 cents)
per ordinary share, payable to shareholders on Monday, 31 March 2025.
The dividend has been declared out of income reserves. The last day to
trade cum dividend will be Tuesday, 25 March 2025. As from Wednesday,
26 March 2025, all trading of Shoprite Holdings Ltd shares will take
place ex dividend. The record date is Friday, 28 March 2025. Share
certificates may not be dematerialised or rematerialised between Wednesday,
26 March 2025, and Friday, 28 March 2025, both days inclusive.
In terms of the Dividends Tax, the following additional information is
disclosed:
1. The local dividend tax rate is 20%.
2. The net local dividend amount is 285 cents per share for shareholders
exempt from paying Dividends Tax and 228 cents per share for
shareholders liable to pay Dividends Tax.
3. The issued ordinary share capital of Shoprite Holdings Ltd as at the
date of this declaration is 591 338 502 ordinary shares.
4. Shoprite Holdings Ltd's tax reference number is 9775/112/71/8.
About this announcement
This short-form announcement is the responsibility of the Directors of
Shoprite Holdings Ltd. It is only a summary of the information in the
condensed consolidated interim financial statements and does not contain
full or complete details. Any investment decisions by investors and/or
shareholders should be based on consideration of the condensed consolidated
interim financial statements as a whole.
The condensed consolidated interim financial statements have been
released on the JSE cloudlink at
https://senspdf.jse.co.za/documents/2025/jse/isse/SHP/ie2025.pdf and
are also available for viewing at
https://www.shopriteholdings.co.za/docs/int2025-mar2025.pdf. Copies of
the condensed consolidated interim financial statements may be requested
from the Company Secretary (cosec@shoprite.co.za, tel +27 (0)21 980 4284)
at PO Box 215, Brackenfell, 7561, South Africa.
By order of the Board
WE Lucas-Bull PC Engelbrecht
Chairman Chief Executive Officer
Cape Town
4 March 2025
Date: 04-03-2025 08:00:00
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