February 26, 2018 / 3:32 PM / 6 months ago

South Africa's Shoprite posts 14.2 pct jump in H1 earnings

JOHANNESBURG, Feb 26 (Reuters) - Shoprite Holdings, Africa’s biggest grocer, on Monday posted a 14.2 percent jump in half-year profit, boosted by a strong performance in its core domestic supermarket operations.

Shoprite, which also vies in South Africa with Pick n Pay and Wal-Mart’s Massmart unit, reported diluted headline earnings per share (HEPS) of 525.2 cents for the six months to end-December, compared with 460 cents a year earlier.

HEPS is a widely watched profit measure in South Africa, which strips out certain one-off, non-trading items.

Total turnover grew 6.3 percent from 71.2 billion rand ($6.14 billion) to 75.8 billion rand. ($1 = 11.6035 rand) (Reporting by Nqobile Dludla, editing by David Evans)

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