Currency hitch for Shoprite growth

While growth has been strong in SA, Shoprite's stores in the rest of Africa have taken a beating from the strong rand, the supermarket group said in an operating update on Tuesday.

"Due to the continued weakening of most non-RSA currencies against the rand, the turnover of the group's non-RSA supermarkets in rand terms increased by only 3% and, on a like-for-like basis, by close to 1%," Shoprite said. "At constant currencies, a rand turnover growth of 13,5% was achieved."