South Africa's Shoprite to exit Uganda and Madagascar


JOHANNESBURG, Aug 23 (Reuters) - South Africa's largest grocery retailer Shoprite Holdings SHPJ.J on Monday said it is withdrawing from Uganda and Madagascar, adding to its growing list of African departures.

Shoprite has been reviewing its long-term options across Africa over the past year as currency devaluations, lower commodity prices and high inflation have hit household incomes and weighed on earnings.

The retailer also forecast an up to 25.3% rise in annual basic headline earnings per share from continuing operations.

(Reporting by Nqobile Dludla Editing by David Goodman )

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