Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

ShopriteBusiness Report writes that Shoprite Holdings reported a 14.3% decline in trading profit to R6.9 billion for the year to end June, negatively impacted by the strike in the first half of the year, slow economic growth in SA and currency devaluations in the rest of Africa operations.  

Chief executive Pieter Engelbrecht commented:  “The performance was significantly impacted by our well documented first half challenges.  With the strike in the distribution centre behind us, our team worked tirelessly to restore performance in the second half.”  He added that it was pleasing to report that the group ended the year with its final quarter sales in Supermarkets RSA growing by 9.4%.  “We remain confident in the opportunity our entrenched position as Africa’s leading food retailer will bring as the economic fortunes of the countries where we trade improve.  Given the challenging global economic backdrop, we are remaining focused on growth opportunities in our home market, inclusive of our established African operations, rather than pursuing businesses in foreign geographies,” Engelbrecht said.

  • Read the full original of the above report by Sandile Mchunu at Business Report

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