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Pick n Pay earnings higher
Grocer retailer Pick n Pay expects diluted headline earnings per share from continuing operations for the six months ended August to be between 15% and 25% higher than the same period last year, it said on Tuesday.
Headline earnings per share from continuing operations are expected to rise by between 10% and 20%.
"The increase in headline earnings per share is less than the increase in the diluted headline earnings per share due to the dilutive effect of issuing 20 million new ordinary shares on the conversion of the convertible debenture on December 31 2007," it said.
Group headline earnings per share are expected to be between 5% and 15% higher and the group diluted headline earnings per share are expected to be 10% and 20% higher.
Pick n Pay, which is closing the Score Supermarkets operation, is treating the results of Score as a discontinued operation and consider the results of the continuing operations to be a more accurate indicator of the performance of the group.
The interim results will be released on October 21 2008.
Published courtesy of
