Johannesburg, Aug 11 - South African retailer Shoprite said on Monday it expects its full-year headline earnings per share to rise by between 45 and 55 percent from the previous year, sending its shares up nearly 5 percent.
Shares in Shoprite rose as much as 4.9 percent, and traded 3.66 percent higher at 42.50 rand by 1412 GMT, outperforming a 0.68 percent rise in the All-Share index.
The company said results for the previous year had been depressed by industrial action at Shoprite, its biggest brand, but that businesses outside South Africa had lifted trading profit much higher than the rest of the group.
Headline EPS is the main gauge of profit in South Africa, and excludes non-trading, capital and certain extraordinary items. The company will release its results around Sept. 2.