Trade Idea: SPAR
Spar results for the year under review were modest, with turnover increasing by 5.3% and profit before tax by only 1.0%.
These results reflect the weak state of consumer buying power and confidence, which has been exacerbated by retrenchments, political uncertainty and climatic challenges in South Africa. Increased price competition among retailers is evident.
Despite these challenges, the group is encouraged by the strong performances from its business in Ireland and the early positive signs of the turnaround in Switzerland.
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