Spar Group says its net income rose by 4% to 952.6 million rand in 12-month period that ended in September; company intends to open 100 new stores during 2012 fiscal year

Allison Oesterle

Allison Oesterle

LOS ANGELES, California , November 9, 2011 () – Spar Group Ltd., a liquor and food retailer based in South Africa, saw its net income rise by 4% to 952.6 million rand over a 12-month period that ended in September, Bloomberg reported on Nov. 9.

According to the article, Spar’s dividends rose by 4.1% to 3.77 rand, and sales increased by 10.4% to 38.4 billion rand. Spar’s shares rose to 100 rand by end of Nov. 9, their highest price in a period spanning more than 11 months.

During the 2012 fiscal year, Spar intends to open 100 new stores, bringing their total number of stores up to 1,748.

Bloomberg reports that South Africa’s food retail market is likely to become more competitive in the coming year due to entry of Wal-Mart Stores Inc., which has purchased controlling shares in wholesale retailer Massmart Holdings Ltd.

The primary source of this article is Bloomberg, New York, New York, on Nov. 9, 2011.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

Share:

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.