Expecting great results
A very strong trading update from Pick n Pay for the 26 weeks to 26 August. Like-for-like sales after inflation are up 3.5% and HEPS (after removing the cost of the retrenchments last year) is expected to be between 13% and 20% higher. However, the stock did not respond to the update. Results are due mid-October. I will be focusing on the operating margin – but from what we see in the update we can expect great results from the company. ■ firstname.lastname@example.org
*The writer owns shares in Capitec, Calgro M3 and Discovery. *finweek is a publication of Media24, a subsidiary of Naspers.