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Shoprite Holdings fiscal H1 profit climbs 10.0% YOY

Shoprite Holdings Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was 3.31 rand per share, compared with the S&P Capital IQ consensus estimate of 3.55 rand per share.

EPS climbed 9.5% year over year from 3.02 rand.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.78 billion rand, an increase of 10.0% from 1.62 billion rand in the year-earlier period.

Total revenue rose 12.5% on an annual basis to 57.47 billion rand from 51.09 billion rand, and total operating expenses grew 12.5% year over year to 54.47 billion rand from 48.40 billion rand.

Reported net income rose 9.0% from the prior-year period to 1.99 billion rand, or 3.70 rand per share, from 1.82 billion rand, or 3.40 rand per share.

As of Feb. 24, US$1 was equivalent to 11.51 rand.