November 14, 2018 / 5:43 AM / a month ago

European businesses help lift South Africa's SPAR FY earnings

JOHANNESBURG, Nov 14 (Reuters) - South African retailer and wholesaler SPAR Group Ltd reported on Wednesday a 1.4 percent increase in full-year headline earnings, boosted by improving contributions from its European businesses.

SPAR, a grocery chain which also sells building materials and medicine in Southern Africa, said headline earnings per share rose to 965.7 cents for the year-ended September from 952.8 cents a year earlier.

Headline earnings per share is the main profit measure in South Africa and strips out certain one-off items.

Group turnover increased by 5.9 percent to 101 billion rand ($7.00 billion) ($1 = 14.4236 rand) (Reporting by Nqobile Dludla; Editing by Amrutha Gayathri)

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