SPAR Group delivered a strong trading performance with turnover increasing by 10.6% for the 47 weeks to 25 August, according to it's latest interim report.
The South Africa-based company reported sales growth of 10.6%, during the period.
SPAR Group highlighted that this result was achieved amidst higher cost of living challenges for consumers across all regions of operations, and business disruptions in the local market.
It's BWG Group operations in Ireland and south-west England reported an 8.5% increase in euro-denominated sales.
This was 'boosted by strong performances across the retail brands, a full recovery of the hospitality sector and successful integration of acquisitions made in Ireland.'
Disposal Of Operations In Poland
SPAR Group announced it's plans to engage in a process to dispose of its operations in Poland.
In a statement, it noted that shareholders were advised that the board was considering various strategic business options in Poland and would announce its decision in due course.
'Having evaluated and considered all options, the board believes that it is in the best interests of the group and shareholders to engage in a process to dispose of its interests in Poland. Additional information will be provided as the process progresses," it added.
Executive Appointments And Board Changes
SPAR Group noted that Mike Bosman will reassume the position of independent non-executive chairman of the board, with effect from 1 October 2023, the company noted.
The group also announced the appointment of Lwazi Koyana as chairman of the risk committee, also with effect from 1 October 2023.
Angelo Swartz and Megan Pydigadu have been appointed as members of the risk committee with effect from 1 October 2023 and 1 November 2023, respectively.
The financial results for the year ending 30 September 2023, will be released at the end of Thursday, 30 November 2023.
