PIK
PIK
PIK - Pick n Pay - Trading Statement
PICK N PAY STORES LIMITED
(Incorporated in the Republic of South Africa)
(Reg. No: 1968/008034/06)
Share Code: PIK & ISIN: ZAE00000 5443
("Pick n Pay")
TRADING STATEMENT
Shareholders are advised that Pick n Pay is in the process of finalising its
interim results for the six months ended 31 August 2008.
As previously reported we are in the process of closing the Score Supermarkets
("Score") operation. The majority of Score`s trading sites are to be sub-let to
historically disadvantaged franchisees for operation as Pick n Pay Family
stores, with the balance being taken over by Boxer or ceded outside the Group.
We are therefore treating the results of Score as a discontinued operation and
consider the results of the continuing operations to be a more accurate
indicator of the performance of the Group.
We are expecting the following increase ranges over the corresponding period
last year.
Headline earnings per share - continuing operations between 10% and 20%
Diluted headline earnings per share - continuing operations between 15% and 25%
Group headline earnings per share between 5% and 15%
Group diluted headline earnings per share between 10% and 20%
The increase in headline earnings per share is less than the increase in the
diluted headline earnings per share due to the dilutive effect of issuing 20
million new ordinary shares on the conversion of the convertible debenture on 31
December 2007.
This statement has not been reviewed by or reported on by Pick n Pay`s auditors.
The interim results for the six months ended 31 August 2008 will be released on
21 October 2008.
By order of the board
Cape Town
14 October 2008
Sponsor:
Investec Bank Limited
Date: 14/10/2008 17:50:09 Produced by the JSE SENS Department.
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