Get to know your JSE companies: SHOPRITE HOLDINGS LTD (JSE: SHP)

Shoprite recently released its FY2020 results for the period ended 28 June 2020. The company reported a 6.4% increase in the sale of merchandise to R156.9 billion. Like-for-like sales grew by 4.4%. Trading profit fell by 2.7% to R8.2 billion, but when excluding the impact of hyperinflation, trading profit was up by 10.4%. The group declared dividends per share of 383 cents for the year, up by 20.1%.

Strategically, the group launched the first digital shopping application in its industry; Checkers Sixty60. The group initially tested the application with 8 stores during November 2019 and has increased this service offering to 87 stores by 28 June 2020 in response to COVID-19.

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