SPAR braces for bad news

• SPAR expects to underperform in its 2026 financial results due to operational pressure in Southern Africa, particularly in its groceries and liquor segment.
• Operational improvements have not yet translated into sufficient earnings or cash benefits to offset pressure, with group sales revenue having moderated since its last interim trading period and revenue growth in Southern Africa being modest.
• The company aims to finalise and announce the appointment of the Chairperson and additional non-executive directors by early November 2026 as part of its larger turnaround strategy.