Shoprite Holdings Ltd. reported consolidated unaudited earnings results for the six months ended December 31, 2015. For the period, the company reported sale of merchandise of 62,519 million compared with ZAR 57,469 million for the same period last year. Operating profit was ZAR 3,381 million compared with ZAR 2,933 million for the same period last year. Profit before income tax was ZAR 3,220 million compared with ZAR 2,853 million for the same period last year. Profit attributable to owners of the parent was ZAR 2,224 million or 414.2 cents diluted per share compared with ZAR 1,986 million or 369.7 cents diluted per share for the same period last year. Diluted headline earnings per share were 403.0 cents compared with 370.2 cents for the same period last year. Cash generated from operations was ZAR 5,621 million compared with ZAR 4,997 million for the same period last year.

The company announced that with the World Bank predicting economic growth of less than 1% for South Africa in 2016, the second half of the financial year will see challenging trading conditions persist in the local market. The run-up to the local municipal elections could also prove disruptive. However, the greater geographic diversification of its operations places the Group in a better position than its main competitors. In addition, continuing investment in infrastructure enables the Group to remain highly competitive. The Group expects to deliver similar results during the next six months, provided the current economic climate does not deteriorate further.