Shoprite reported HEPS up +15.8% to 1,372c for FY25, in line with Bloomberg expectations & above the guided 1,357c midpoint. Revenue increased 8.6% to R256.7bn, also topping guidance. Like-for-like sales rose 4.6%. Internal selling price inflation was 2.3% vs 5.8% in FY24. Trading margins improved 40bps to 5.9%. Results supported by 9.5% growth in Supermarkets RSA, specifically Checkers (+13.8%) & Sixty60 (48%). Dividend +9.7% to 781c per share.
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