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Annual earnings at South Africa's Shoprite miss estimates
JOHANNESBURG, Aug 20 (Reuters) - South Africa's supermarket
chain Shoprite Holdings reported lower-than-expected
full-year earnings on Tuesday as inventory shortages at home and
currency devaluations in the rest of Africa weighed on profit.
Basic headline earnings per share (HEPS) for the year ended
June 30 fell 19.6% to 780.8 cents, compared with a restated
figure of 971.4 cents a year earlier.
That was worse that the 15.5% fall forecast by analysts,
IBES data from Refinitiv showed.
HEPS strips out certain one-off items and is the main profit
measure used in South Africa.
(Reporting by Nqobile Dludla; editing by Jason Neely)
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