Pick n Pay earnings fall in tough trading conditions

PICK n Pay Stores said on Tuesday a lot of hard work lay ahead, as it reported a 21.7% reduction in diluted headline earnings per share to 109.61c despite a 7.1% rise in turnover to R59.3bn.

A dividend of 84c per share was declared, down 35.8% from previously.The group has adopted a 52-week financial reporting calendar for all future annual financial periods, it said on Tuesday.

As a result, the 2013 annual financial period ended on March 3 2013, compared with February 29 2012. The turnover increase is 6.3% if the impact of the change in reporting calendar is excluded.

Editor's Comment
A call for collaboration in Botswana’s media landscape

This call is both timely and crucial, as it reflects a growing need for unity and collaboration amongst media bodies to address pressing issues facing the nation.The theme of this year’s Press Freedom Day, “A Press for the Planet: Journalism in the Face of the Environmental Crisis,” resonates deeply with Batswana, particularly in light of the ongoing human and wildlife conflict. Botswana’s rich wildlife population is not only a national...

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