Pick ‘n Pay H1 earnings up

JOHANNESBURG – South African supermarket group Pick ‘n Pay said first-half headline earnings per share rose by 15,5 per cent and it expected to achieve real earnings growth in the current year.

Pick ‘n Pay, 53 per cent owned by Pick ‘n Pay Holdings, said yesterday headline EPS for the six months to end-August was 63,85 cents while turnover rose 10,3 per cent to 18,617 billion rand. Shares in the group sank 1,82 per cent to 30,76 rand, underperforming a 0,03 per cent decline in the retail sector index.On the group’s prospects for the next half, the group’s Chief Executive Officer Sean Summers said it remained very confident going into the Christmas period.The country’s buoyant consumer demand has boosted the country’s retailers over the past couple of years, despite the three interest rate increases over the course of the year.Nampa-ReutersShares in the group sank 1,82 per cent to 30,76 rand, underperforming a 0,03 per cent decline in the retail sector index.On the group’s prospects for the next half, the group’s Chief Executive Officer Sean Summers said it remained very confident going into the Christmas period.The country’s buoyant consumer demand has boosted the country’s retailers over the past couple of years, despite the three interest rate increases over the course of the year.Nampa-Reuters