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PICK N PAY HOLDINGS LIMITED - Trading statement

Release Date: 06/10/2014 07:05
Code(s): PWK     PDF:  
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Trading statement

Pick n Pay Holdings Limited 
(Incorporated in the Republic of South Africa)
(Registration number 1981/009610/06)
Share code: PWK ISIN code: ZAE000005724

Trading statement

Shareholders are advised that Pick n Pay Holdings Limited RF (“the Group”) is in the process of finalising their financial results for
the 26 weeks ended 31 August 2014, which are expected to be published on 16 October 2014.

The Group will deliver an improved financial performance in the first half of the 2015 financial year, despite the backdrop of a
difficult economy and a challenging trading environment.

Turnover growth of 6.8% over the period reflects the increasing financial pressure faced by our customers and the
competitiveness of our market. We are pleased however, with the improvement in our like-for-like turnover growth, which has
increased to 4.0%, from 2.7% for the year ended February 2014. We continue to support our customers both by keeping our
price increases below food CPI and by investing to improve the shopping trip.

Sustained improvement in financial control and operating efficiencies are driving the profit growth, as Pick n Pay steadily
becomes a more effective and productive business.

We expect the results for the 26 weeks ended 31 August 2014, expressed as growth on the same period last year, to fall within
the following ranges:


Performance measure                                                2013                Expected range
                                        Growth on last year        cents per share     cents per share
HEPS will increase between              25% and 35%                20.24               25.30 to 27.32
Diluted HEPS will increase between      25% and 35%                19.88               24.85 to 26.84
EPS will increase between               30% and 40%                19.86               25.82 to 27.80
Diluted EPS will increase between       30% and 40%                19.50               25.35 to 27.30


The Group is encouraged by this improved profit performance and the progress being made across all areas of our business.
Good expense control and improving operational efficiency is strengthening the capacity of the business to deliver on its
strategic focus, which remains that of customer-driven and sales-led growth. We are taking our positive momentum into the
second half of the year, while acknowledging that a great deal of hard work remains to be done under increasingly challenging
economic conditions.


This trading statement has not been reviewed by or reported on by the Group’s external auditors.

By order of the board

Cape Town
6 October 2014                                                                    

Sponsor: Investec Bank Limited

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