Spar Group has operations in South Africa, Ireland and South-West England as well as Switzerland.
A company logo for the South African supermarket chain SPAR Group is seen on a trolley outside a store in Johannesburg, South Africa, June 7, 2022.
The retailer says the trading environment across its territories continues to be challenging with high inflation in food, fuel and energy. Spar CEO Angelo Swartz elaborates, “I think generally the economic environment across the globe has been challenging for all of us, South Africa obviously looking a lot more positive. Our financial year runs from October to September so really the South African business saw the benefit of that towards the tail end of the year.”
Sasfin Securities Portfolio Manager, Muhammed Wagley says the company’s performance was overall disappointing.
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