Pick n Pay reaps the rewards of its 6-year cost-reduction strategy | IOL Business Report

DURBAN – Pick n Pay reported strong results on Friday as the JSE-listed retail giant reaped the rewards of its strategy over the past six years to reduce costs and improve operational activities in the face of a tough economic slowdown and subdued consumer spending, enabling it to outperform its competitors. Chief executive Richard Brasher said on Friday that the results for the 53 weeks to end March 3 were the culmination of plans the company decided to embark on a few years ago.

The group reported a 26.1 percent increase in diluted headline earnings per share to 342.37 cents a share. Revenue increased to R90.47 billion, up from R82.49bn, while profit increased to R1.65bn, up from R1.3bn compared to last year, and achieving an internal selling price deflation of 0.3 percent against CPI food of 3.4 percent.

Its competitors like Shoprite reported 3.8 percent decline in Dheps for the year to end July 1. However, its recent results for the six months to end December, Dheps was down by 24.1 percent.

busrep surprisingly I bought TV there which is now cracked the screen they are reluctant to replace /fix it at Centurion pls help

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