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Spar holds back on final dividend amid R1.6bn profit plunge

Nick Wilson

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Spar reported on Thursday that it scrapped its final dividend as challenges associated with the implementation of a new IT system in KwaZulu-Natal and impairments in its Poland business saw its full-year operating profit almost halving.

The retailer, which also held back on a dividend in its interim results, said it was "prudent" not to declare a final dividend because of the challenges it was facing.

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