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.
Pick n Pay’s share price slipped more than 7 percent today as it said the costs of running diesel generators had affected profits. Load-shedding has had a material impact on the results, with Pick n Pay spending more than R520 million on diesel. #DStv403 #QuestionThinkAct pic.twitter.com/hfuE1E9gTW
— eNCA (@eNCA) May 4, 2023
Gugu Khathi Exposed For Cheating On DJ Tira
Gugu Khathi is rumored to be having an affair with Tebogo Lerole of Kwela Tebza band.
Gender activist Sli Khumalo revealed how Tebogo tried sleeping with DJ Tira’s wife during the Eastern Cape SUV challenge event last weekend. ZiMoja who is in possession of Sli’s voice recording and chats with...learn more