Pick n Pay warned of as much as a 60% drop in half-year earnings on Wednesday, underlining the costs of staying open during the pandemic and the effect of trading restrictions for virtually its entire March-August reporting period.

The company expects that headline earnings per share, the main profit measure that strips out certain one-off, nontrading items, could fall in a range of 50%-60% to between 34.01c and 42.51c in the 26 weeks to the end of August.

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