In a statement on Monday, the grocery retailer attributed the improvement in earnings to greater efficiency, which included a more centralised supply chain and higher productivity in stores.
"Turnover growth of 7% reflects a difficult trading environment, alongside some internal disruption from refurbishments and store closures which are improving the quality of the estate," the company said.
Pick n Pay said it was developing "strong pillars" for future growth by improving its customer offer across its Pick n Pay and Boxer format.
It also aimed to open more Next Generation stores, accelerating product innovation through private label and enhancing its clothing, online and services offer.
In March, the company committed R500m to cutting prices on over 1,300 essential items in the hopes of relieving pressure on consumer food baskets.
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
