Pick n Pay expects full-year headline earnings to rise 15% to 20%

Pick n Pay’s share price spiked briefly on Monday after the company said it expected to report a double digit increase in full-year earnings. But the share price slipped gradually, unable to buck the falling trend in listed retail stocks. In a trading statement, the group said headline earnings a share for the year to February 2017 would increase 15%-20% from of 224.04c in the previous corresponding period. Turnover growth would increase 7%. The group said the results demonstrated progress in delivering a balanced and sustainable recovery.

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