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Spar Group’s first-half profit rose 27 percent, boosted by increased consumer spending and rising prices, the grocery, liquor and building-materials distributor said yesterday.

May 17, 2007

Johannesburg – Spar Group’s first-half profit rose 27 percent, boosted by increased consumer spending and rising prices, the grocery, liquor and building-materials distributor said yesterday.

Net income climbed from R206.4 million a year earlier to R261.9 million in the six months to March, the company said.

Sales surged 31 percent to R10.8 billion.

Shares in Spar gained 1.32 percent to R50.38, while the food and drug retailers sector lifted 2.51 percent. – Bloomberg