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Fri 6 Nov 2026
Close: 2 519c 
Day's move: -11c (-0.43%)
Volume: 2 107 569
Trades: 1 809
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Revenue of the interim period rose to R62.3 billion (R60.8 billion) whilst gross profit was higher at R11.4 billion (R10.7 billion). Trading profit jumped to R490 million (R310 million). Loss attributable to equity holders improved to R270 million (loss of R496 million). Additionally, headline loss per share narrowed to 40.71cps (headline loss per share of 59.77cps).
Shareholder distribution
As a result of the headline loss incurred, the Board has not declared a dividend, and does not expect to declare any dividends until the Group has returned to long-term sustainability
Results webcast
The Group will hold an in-person and online results presentation at 8:30 this morning, 26 October 2026. All interested stakeholders are invited to watch the webcast, which can be accessed using the following link: www.corpcam.com/pnp26102026.
Group strategic plan and outlook
The Group faced a challenging external environment in H1 FY27, given the impact of increased fuel prices from May 2026 on both our customer's wallets and our cost base. Despite this, both Pick n Pay and Boxer managed to deliver improved results on a year-on-year basis.
While the Pick n Pay segment delivered a reduced loss, the R1.1 billion loss at the trading profit after lease interest level indicates that substantial further profitability improvement must still be delivered to return Pick n Pay to a sustainable basis.
The customer experience is being substantially improved, and this is supporting our like-for-like sales growth. The initial benefits of the turnaround elements that have already been put in place are beginning to show in the financial results, with gross profit margin steadily recovering and trading expense growth contained. Significant further benefits are set to flow over the coming two and a half years, as we approach our FY29 trading profit after lease interest breakeven target.
Ongoing elevated oil prices, and the consequent impacts on food inflation, logistical costs and the ability of the consumer to spend, mean that visibility on the trading outlook for the remainder of FY27 is low. Given this, the Group continues to focus on operating levers within our control, where we have substantial opportunity.
In the 4 weeks post period-end, the Pick n Pay segment's South African supermarket like-for-like sales growth was slightly ahead of that achieved in H1 FY27.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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