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PWK PIK
PWK PIK
PWK/PIK - Pick n Pay Holdings / Pick n Pay Stores - Trading statement
Pick n Pay Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1981/009610/06)
Share code: PWK & ISIN code: ZAE000005724
Pick n Pay Stores Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1968/008034/06)
Share Code: PIK & ISIN code: ZAE000005443
Trading statement
Shareholders are advised that Pick n Pay Holdings Limited and Pick n Pay Stores
Limited are in the process of finalising their results for the 6 months ended 31
August 2009, which we expect to publish on 21 October 2009.
As previously reported, the Group is exiting the operations of Score
Supermarkets which is accordingly disclosed as a discontinued operation. We
expect the exit to be complete by the end of this financial year. We therefore
consider the results from continuing operations, excluding Score Supermarkets,
to be a more accurate indicator of the performance of the Group.
During the reporting period the Group realised a capital profit on the sale of
certain properties which is excluded from headline earnings. However, the
capital profit will have a marked effect on the growth of earnings per share
("EPS") relative to headline earnings per share ("HEPS").
We expect the results to reflect the following increase ranges over the
corresponding period last year.
HEPS and diluted HEPS from continuing operations between 8% and 15%. In
accordance with our policy, increases in dividends will be based on the
increase in HEPS from continuing operations.
Total HEPS and total diluted HEPS, which include the losses incurred in the
Score Supermarkets operation, between 3% and 10%.
EPS and diluted EPS from continuing operations as well as total EPS and
total diluted EPS, all of which include the profit on the sale of
properties, between 45% and 55%.
This forecast has not been reviewed or reported on by the Group`s auditors.
By order of the board
Cape Town
29 September 2009
Sponsor:
Investec Bank Limited
Date: 29/09/2009 16:44:01 Produced by the JSE SENS Department.
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