|
PWK PIK
PWK PIK
PWK /PIK - Pick n Pay Holdings /Pick n Pay Stores Limited - 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 ("the Group") are in the process of finalising their results for the
year ended 29 February 2012, which are expected to be published on 18 April
2012.
Turnover growth for the year was 8.1% (8.7% for the 6 months ended 29 February
2012) with encouraging like for like growth. The increased turnover growth is
the result of a number of factors, the most influential of which is the growth
in the number of active customers in our smart shopper loyalty programme, which
now stands at over 5 million.
The operational results for the second half of the financial year have shown a
marked improvement. However, as reported with our interim results, the Group`s
continued investment in its strategy has had a negative impact on profit growth
for the year. The primary costs in this regard are the upfront launch costs of
smart shopper, the implementation of specialist category buying and the
continued investment in our central distribution system, all of which will
improve future operating efficiencies and enhance our ability to serve our
customers.
The Group completed the sale of Franklins Australia ("Franklins") on 30
September 2011. The net proceeds from the sale were R1.2 billion, resulting in a
profit after tax of R438.4 million. The profit on the sale of Franklins is not
included in headline earnings.
The operational results of Franklins and the profit on sale of Franklins are
disclosed as a discontinued operation.
Given the above, we expect the results for the year ended 29 February 2012 to
fall into the following ranges compared to the previous year:
- EBITDA from continuing operations will decrease by up to 10%;
- HEPS and diluted HEPS from continuing and total operations will decrease by
between 10% and 20%. This compares to a 39.3% reduction in HEPS from
continuing operations in the first half of the year;
- EPS and diluted EPS from continuing operations will decrease by between 10%
and 20%; and
- EPS and diluted EPS from total operations will increase by between 35% and
45%, due to the profit on the sale of Franklins.
This trading statement has not been reviewed or reported on by the Group`s
auditors.
By order of the board
Cape Town
30 March 2012
Sponsor: Investec Bank Limited
Date: 30/03/2012 16:44:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
