Pick n Pay shares at best level in nearly four months on strong results
The grocer posted a 6% increase in turnover and a 12.5% improvement in trading profit, partly thanks to using data analytics
22 October 2019 - 18:42
Pick n Pay delivered strong sales and profit growth in the six months to end-September thanks to centralisation of its distribution facilities and more use of data analytics to monitor shopper trends.
The third largest grocer by market capitalisation (R33.5bn), posted a 6% increase in turnover and a 12.5% improvement in trading profit, which helped its shares rally 10.54% to close at R67.98, its best level in nearly four months. ..
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