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November 12, 2009
Spar year a tale of good half, bad half
Grocery retailer Spar experienced the proverbial "year of two halves" as food inflation reached highs of 16 percent in the first half and dropped significantly to 9 percent in the second half.
The lower inflation knocked group turnover growth from 24.5 percent to 14.9 percent in the second half, but chief executive Wayne Hook maintained that Spar overcame a difficult trading environment with full-year turnover up 19.5 percent to R32 billion.
Posted by StaffWriter at November 12, 2009 10:09 AM
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