Pick n Pay expects first-half profits to halve
Covid-19 trading restrictions and increased staff costs weigh on the supermarket group
04 August 2020 - 08:41
Retailer Pick n Pay warned on Tuesday that its first-half profits could halve as it grapples with the fallout from Covid-19.
Trading restrictions on items such as alcohol and tobacco, increased staff costs and a voluntary severance programme all weighed on the group, which expects comparable headline earnings per share (HEPS) to end-August to fall more than 50%...
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