Why Shoprite’s earnings dropped for the first time in 10 years

Shoprite released its interim results today reporting a 24% plunge in diluted headline earnings per share due to supply challenges in the domestic market and currency devaluation in Angola - which helped fuel a trading loss in the company's rest of Africa division. As a result, the interim dividend has been cut by 24% - levels last seen in 2016.

Shoprite's CEO Pieter Engelbrecht discussed the company’s interim results with Business Day TV
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