Pick n Pay sees HY profits jump

Pick n Pay expects its half-year (HY) diluted headline earnings per share to increase by up to 85%, largely due to cost savings from staff layoffs – 3 500 jobs – made last year.

The established South African supermarket chain store flagged that its diluted headline earnings per share for the 26 weeks ended August 2018, would come in between 95.43 and 100.88 cents per share, compared with a restated 54.53 cents per share in 2017. – Reuters