Liquor stores driving SPAR South Africa growth

Date : 15 May 2013

SPAR has reported group turnover up 9.6% for the six months ended March 2013, driven by a strong performance from liquor stores.

Tops liquor is standout performer

Tops' wholesale turnover grew by 18.2%, and 25 new stores opened during the first half. Product inflation did have an effect however, at 7.9%. SPAR's combined food and liquor retail sales were up 10.2%, and 7.8% on a like-for-like basis.

Expects satisfactory second half

SPAR does not expect any significant change in South Africa's market conditions in the remainder of this financial year.  Further new store openings, strong marketing to support its 50th anniversary, and its continued focus on costs will help deliver a satisfactory performance.