Pick n Pay Stores says net profit rose by about a fifth in the financial year to March 3
, even as its operations outside SA stumbled.
“Both total and like-for-like sales outperformed peers, indicative of market share gains,” Samuels said. Despite the upbeat financial report, Pick n Pay’s shares were 2.4% lower at R69.97 at 12.30pm on Friday. Despite the weaker contribution from outside SA, Pick n Pay said it had started building a store in Nigeria, which would open in 2019, and it planned to open two more in that market.
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