PicknPay final results 53 weeks ended 3 March 2019

Revenue for the period increased to R90.5 billion (2018: R82.5 billion), gross profit rose to R16.7 billion (2018: R15.2 billion), trading profit climbed to R2.2 billion (2018: R1.8 billion), while profit for the period was higher at R16 billion (2018: R1.3 billion). Furthermore, headline earnings per share grew to 346.69 cents per share (2018: 276.98 cents per share).

Notice is hereby given that the directors have declared a final gross dividend (number 102) of 192.00 cents per share out of income reserves.

Sustainable growth in a tough market
Over the past six years, the Group has pursued a clear and consistent long-term plan focused on building a leaner and fitter business which delivers consistent turnover and earnings growth by providing customers with better value-for-money, improved quality, more innovation, and a genuine multi-channel platform with a strong online offer and attractive value-added financial services.

The Group's FY19 financial result - in which market-leading turnover growth was achieved without sacrificing earnings growth - underlines the effectiveness of the strategy and the team's ability to implement it. Pick n Pay and Boxer serve customers across all social and income groups, and the Group is increasingly confident that it has the focus and flexibility to compete and pursue growth in the market. The Group has begun the 2020 financial year with great energy, and is committed to winning more customers in a tough market. We extend our sincere appreciation to our Pick n Pay and Boxer teams who have delivered an outstanding result, and who continue to build a modern and effective business.

2019-04-26 08:18:37