Shoprite Hldgs Ltd S/Adr (SRGHY) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to our interim results presentation for 2024. I hope that we'll be able to give you some insights in what has transpired in the last six months. We will use the normal format where I will give a bit of an overview just for the group. Anton will then take us through the detailed financials and then I'll just end off again with a bit of the strategy and how we see going forward in the next couple of months. So in terms of the operational overview, the first part of my presentation, I know I can spend an hour on all the excuses of why things are not great or why the performance could be better or what the reasons are, what makes doing business in South Africa extremely challenging. But we're not going to do that. That is not what we do. Rather, we're going to just tell you that we've been busy again, as usual. We have done a lot of development, additional employment. We've launched some leadership programs. We had some fun in terms of advertising, some creative. We had the World Cup. It was quite fun with the old 60-60 and very happy also to say that we have managed to get 34 new innovation in the retail awards in the last six months. But we never lose focus of the fact that we have responsibility to develop small and local suppliers and then keep the affordability in mind. So the example here is that meal for four for just 20 rand. The little scooter that we are proud to say it's locally made, very happy with it. Continue to develop the forest and freeze brand. very high levels of acceptance amongst our, especially our checklist customers. And we even tried to put the extra joy back into Christmas when we decided to do something special for Stanford after that town suffered a terrible flooding. It's been a very busy year. Sales amounted to 121 billion. Now one ...