Africa Outlook

Around Africa in seven stories


SOUTH AFRICAN retailer Pick n Pay has recorded a strong set of first half financial results.

Despite challenges in Zambia and Zimbabwe, the company posted a 9.5 percent rise in H1 earnings.

CEO Richard Brasher said: “At the core of our result is a very strong performanc­e from our South Africa division. Our South African sales growth – comprising our Pick n Pay and Boxer stores – was 6.5 percent. This is a very pleasing performanc­e, ahead of overall growth in the market, and achieved against a strong base.

“In this environmen­t, retailers have found it difficult to balance their two key objectives: delivering solid sales growth while maintainin­g profit margins. I am very pleased that we have succeeded in growing both our sales and our profits.”

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