SA’s Pick n Pay Eyes 25% rise in HY1 Profit, Shares Up

JOHANNESBURG Oct 7  – South African supermarket operator Pick n Pay forecast a 20 to 25 percent increase in half-year profit on Friday, despite a tougher trading environment.

* Pick n Pay said it expects headline earnings per share, the main profit measure used in South Africa that strips out certain one-off items, to be in a range of 79.94 cents to 83.28 cents per share in the six months to Aug. 28.

* Shares in Pick n Pay, which are up more than 8 percent this year, rose 2.03 percent to 69.36 rand by 0851 GMT. (Reporting by Nqobile Dludla; editing by David Clarke)


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