Pick n Pay sees higher annual earnings

South African grocery retailer Pick n Pay on Wednesday forecast higher annual earnings despite estimating lost sales worth about R2.7 billion due to last year’s civil unrest in the country and liquor sale restrictions.

The company said its headline earnings, the main profit measure in South Africawere expected to be in the range of 247.65-270.59 cents per share for the year ended February 27.

Read: Pick n Pay ups fresh produce offering with first in-store vertical farms

PnP shares over 12 months

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