Reeza Isaacs, CEO: The SPAR Group.
The SPAR Group has admitted it allowed its cost base to outgrow revenue for too long and a recovery strategy is built around improving retailer outcomes first, said CEO Reeza Isaacs.
The supermarket franchise and wholesale group, in its interim results for the six months to March 27, 2026, said it is moving to confront historical execution gaps and refocus the business on its core engine: the independent retailer, said Isaacs, who stepped into the CEO role on March 1.
The results and new plans to fix the business appeared to be positively received by the market on Wednesday, with the JSE share price up 4.47% by midday at R54.17, a price that is nevertheless well down from R112.62 a year ago.
The results showed headline earnings a share fell 55.5% to 199,9 cents a share, while net debt increased to R7.3 billion from R5.4bn at September 2025, primarily due to the timing of creditor payments at period end, the SPAR Switzerland loan repayments outflow, and lower earnings before interest, tax, depreciation, and amortisation.
