SA’s entire food industry is under existential threat, with a high likelihood of social unrest relating to food shortages and possible store closures if blackouts are escalated, Pick n Pay chairperson Gareth Ackerman has warned.
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Pick n Pay’s load shedding bill shoots past R500 millionPick n Pay has released its financial results for the year ended 26 February 2023.
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Pick n Pay misses dividend estimates as power costs increase.PicknPay missed dividend estimates as South Africa’s third-largest grocer incurred extra costs to keep the lights on at its stores amid nationwide loadshedding. Moneyweb PowerCuts
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Pick n Pay cuts dividend over blackouts and investment planThe retail group lowers payout ratio after a tough year amid ongoing load-shedding and the Ekuseni plan
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Load shedding takes a big toll on Pick n Pay - TechCentralPick n Pay said it delivered a “resilient” performance in its full-year results, despite the damaging impact of load shedding on its bottom line.
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South Africa's Pick n Pay warns earnings may fall again if blackouts persistPick n Pay's 2023 earnings may not exceed those of the previous year if rolling power cuts persist, the South African supermarket chain said after reporting weaker earnings on Thursday, hit by energy and store revamp costs.
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