Shoprite’s profit could have been higher if not for power cuts, CEO says

Pieter Engelbrecht says impact of outages on economy is devastating

SA’s largest grocer Shoprite grew its profit more than one-tenth in its latest interim results, but noted that extra spending to minimise the impact of power outages prevented it from being higher.

“We are disappointed that due to the considerable spend on diesel to operate generators across our stores during load-shedding, we are not reporting the level of profit and dividend growth that would normally be associated with this level of sales growth,” CEO Pieter Engelbrecht said in its results for the 26 weeks to end of January 1...

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