Electricity Crisis | Pick n Pay spends over R520m on diesel

Pick n Pay’s share price slipped more than 7% on Thursday as it said the costs of running diesel generators had affected profits.

The retailer cut its dividend by 16%.

But the group’s turnover grew by just under 9% to R106-billion driven by growth at its Boxer stores.

Power cuts have had a material impact on the results with Pick n Pay spending more than R520-million on diesel.


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