S.Africa's Pick n Pay annual profit slumps on COVID-19 restrictions, once-of costs

  • Reuters
S.Africa's Pick n Pay annual profit slumps on COVID-19 restrictions, once-of costs

JOHANNESBURG, April 21 (Reuters) - South African grocery retailer Pick n Pay PIKJ.J reported a 21.4% decline in annual earnings on Wednesday, weighed down by the ban on the sale of alcohol and other products and by once-off compensation costs.

Headline earnings per share (HEPS), the main profit measure in South Africa, fell to 229.31 cents in the 52 weeks ended Feb.28 from 291.90 cents the previous year. Comparable HEPS, which exclude hyperinflation accounting declined by 16.8%

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