Spar swings into a R1.7 bn profit, declares dividend of 280c a share
By Siphelele Dludla
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JOHANNEBSURG - SPAR Group yesterday declared an interim gross cash dividend of 280 cents per share out of income reserves after swinging into a R1.7 billion profit for six months ended March 31, 2021.
The multinational grocery chain’s dividend rose from 200c last year as it saw its interim profits climbing by 28.1 percent following strong performances from its operations abroad. This as Spar delivered strong growth, increasing group turnover by 7.5 percent to R64.2bn.
Spar said the turnover in its operations in Switzerland rose by 11.1 percent to 21.6 percent for the six-month period, in spite of the region continuing to experience the impact of the Covid-19 pandemic with ongoing lockdown regulations.
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NOMPU SIZIBA: Grocery retailer Spar has released half-year results. For the six months ended March, 2021, the company reported that group turnover came in at R64.2 billion, a 7.5% improvement on the year prior. Operating profit jumped by 28.1% to R1.7 billion, while normalised diluted headline earnings per share came in at 608.3 cents. Shareholders are set to get an interim dividend of 280 cents a share; that’s up 40% on the year prior.
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