The group warned profit for the 2023 financial year might fall by as much as 18%
Retailer Pick n Pay has constituted workstreams to limit the effects of load-shedding on the group’s earnings.
The group said headline earnings per share for the year ended February are likely to decrease by between 12% and 18% using a pro forma measure. “Despite this, the group has contained the earnings impact through holding underlying gross profit margin constant and tight control of trading expenses.”
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