The group has reported a drop in interim profit as the coronavirus batters the retail sector
Retail group Spar is bracing for “unprecedented” pressure on consumers as a result of the Covid-19 pandemic, with the virus already partially responsible for profits falling by more than a quarter in its half-year to end-March.
Profit after tax fell 28.7% to R714m in the group’s half-year to end-March, partially due to the effect of Covid-19 on its recent acquisition ofDuring the period, the group completed the acquisition of Piotr i Pawel and secured the rights to the Spar licence to trade in Poland. However, suspension of court activity has delayed restructuring the group and also affected trading.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Commissions flooded with Covid-19 related price hike complaintsThe Competition Commission continues to be flooded with complaints about price hikes for basic food items and coronavirus-related supplies - as does the National Consumer Commission.
Read more »
Rift widens between Australia and China over Covid-19 inquiryThe Chinese ambassador’s warning of a consumer boycott of Australian goods has prompted Australian accusations of ‘economic coercion’
Read more »
Rift widens between Australia and China over Covid-19 inquiryThe Chinese ambassador’s warning of a consumer boycott of Australian goods has prompted Australian accusations of ‘economic coercion’
Read more »
Ruby Rose quits 'Batwoman' after one seasonRuby Rose, the star of CW's 'Batwoman', has quit the show after just one season.
Read more »
Consumers now paying more for eggs, milk and cheese than in AprilDay55oflockdown: Consumers are paying more for eggs, milk and cheese today than they did a month ago, according to the weekly essential products price index from StatsSA. covid19 coronavirus
Read more »
China offers farmers cash to give up wildlife tradeFarmers in China are being offered cash to quit breeding exotic animals as pressure grows to crack down on the illegal wildlife trade that has been blamed for the coronavirus outbreak.
Read more »