Shoprite Sales Gain This Year After New Stores Boost Profit

Shoprite Holdings Ltd., Africa’s largest food retailer, said sales are increasing this year after profit grew 20 percent in the fiscal first half on new stores and “particularly good” spending over the December holidays.

Net income advanced to 1.4 billion rand ($183 million), or 2.80 rand a share, in the six months ended Dec. 31, from 1.2 billion rand, or 2.34 rand a share, a year earlier, the Cape Town-based company said today in a stock-exchange statement. Sales rose 13 percent to 41 billion rand.