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Markets News

Panic buying, discount shoppers lift South African Shoprite's annual earnings

JOHANNESBURG, Sept 8 (Reuters) - South African supermarket chain Shoprite Holdings reported a 2.5% rise in full-year earnings on Tuesday, helped by panic buying just before coronavirus lockdown and as shoppers turned to its discount unit Usave.

Diluted headline earnings per share (HEPS) from continuing operations rose to 765.8 cents in the year ended June 28 compared with a restated figure of 746.9 cents a year earlier.

HEPS strips out certain one-off items and is the main profit measure used in South Africa.

Shoprite also declared a final dividend of 227 cents per share. (Reporting by Nqobile Dludla; Editing by Muralikumar Anantharaman)

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