Spar posts higher sales

Turnover rose by 9.3% in the 20 week-period to February 16.

South African grocery retailer and wholesaler SPAR SPPJ.J said on Wednesday its turnover rose by 9.3% in the 20 period to Feb. 16, helped by the strength of foreign currency against the rand, although growth was impacted by cost-of-living pressures.

The group said turnover in its Switzerland and Poland businesses declined during the period as consumers seeking value moved to shopping from supermarkets or discounters.

SPAR, which announced plans to sell its Poland unit, said significant progress had been made in the process, and added that negotiations were still in early stages.