Shoprite shares drop as growth slows

Comment on this story
Shoprite INDEPENDENT NEWSPAPERS Shoprite has opened its first outlet in northern Nigeria, defying wider concerns about security in the region. Photo: Leon Nicholas.

Johannesburg - Shares of Shoprite slide 3.7 percent to 137.87 rand after reporting a slow down in earnings growth in the first half.

Africa's biggest grocer said headline earnings grew by 8 percent in the six months to end December, slower than the 12.5 percent expansion posted a year earlier.

Shoprite shares are down more than 15 percent so far this year, compared with a gain of nearly 3 percent rise by the Top-40 index. - Reuters

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.