Streaming issues? Report here
Temp 702 logo 1000 x 1000 2020 Temp 702 logo 1000 x 1000 2020
Best of 702
00:00 - 04:00
volume_up
volume_mute

Up Next: Early Breakfast with Africa Melane
See full line-up
Best of 702
00:00 - 04:00
Home
arrow_forward
Business

Pick n Pay's turnover for the year is around R82 billion

19 April 2018 8:10 PM
Tags:
Pick n Pay
Retail
pick n pay growth
profit

The Money Show’s Bruce Whitfield interviews Richard Brasher CEO at Pick n Pay on its growth.

Despite retailers struggling, Pick n Pay have grown 7% in the past year. This was partly due to cutting costs, laying off 10% of its work force and an increase in sales.

Richard Brasher CEO at Pick n Pay says that they are very positive for 2018. He says that from a customer point of view, people want good deals and Pick n Pay was able to provide it for them.

If you are prepared to trade, there is trade to be had out there. But you've got to have the best prices.

Richard Brasher, CEO at Pick n Pay

Pick n Pay have also seen a massive turn around in terms of inflation. For Brasher this is also great for customers.

I think it's a long time that South Africans have seen sort of a flat inflation figures in some of the food retailers. This is good for customers, tough for retailers.

Richard Brasher, CEO at Pick n Pay

I think it's better that way around, because in our quarter 4 result we managed 4.7% like for like volume increase. And that is always a good barometer for a healthy business.

Richard Brasher, CEO at Pick n Pay

Brasher says even though these margins seem small to the laymen, but where they benefit is volume.

Our margins are around 2.5, so we have to stay close to the paper clips and the photocopier costs. But what we do get is obviously the benefit from volume. Our turnover for the year was some R82 billion.

Richard Brasher, CEO at Pick n Pay

So we turnover a lot, we employ a lot of people, we've got a lot of costs and we make a modest profit. But I am pleased that our underlying profit this year was 19.3 % and that bodes well for us to be able to invest in the business in the coming year.

Richard Brasher, CEO at Pick n Pay

For more detail; listen to the interview in the audio below.

Click here (then “like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.


19 April 2018 8:10 PM
Tags:
Pick n Pay
Retail
pick n pay growth
profit

More from Business

Doom ad not racist says ARB. But why pair Doom and food in the first place?

2 March 2021 8:52 PM

After a complaint, Tiger Brands has added 'don't spray on food' to campaign showing man's meal interrupted by a flying insect.

Share this:
Read More arrow_forward

Tough times for Spur, but new SA outlets in the pipeline

2 March 2021 7:55 PM

Spur's profits plummeted in the wake of lockdowns, but the loyalty of customers is 'quite amazing' says Group CEO Val Nichas.

Share this:
Read More arrow_forward

Cashbuild doubles its profit as lockdowns boost desire for home improvement

2 March 2021 7:11 PM

Not all businesses suffered losses because of the pandemic. Bruce Whitfield interviews Cashbuild CEO Werner de Jager.

Share this:
Read More arrow_forward

Molefe evasive, but maintains Ramaphosa integral to state capture at Eskom

2 March 2021 6:52 PM

Zondo Commission: Former Eskom CEO Brian Molefe repeated allegations about the capture of Eskom by Glencore and Ramaphosa.

Share this:
Read More arrow_forward

No food to be served on domestic airlines, only water

1 March 2021 10:15 PM

Siyathemba Inflight Catering MD Sonette Joubert talks about the newly gazetted ruling saying she is still in shock.

Share this:
Read More arrow_forward

SA e-commerce logistics specialist ParcelNinja give up 60% to Imperial

1 March 2021 9:57 PM

Bruce Whitfield chats to Justin Drennan, Co-Founder at Parcel Ninja about the astonishing growth path of the business.

Share this:
Read More arrow_forward

Always wanted to own a piece of a wine farm? Here's how to make it a reality

1 March 2021 8:47 PM

Hemelzicht Vineyards, a new investment model that gives the public the opportunity to own a share in a luxury wine estate.

Share this:
Read More arrow_forward

Sea Harvest buoyant with 17% annual profit hike despite choppy economic seas

1 March 2021 7:57 PM

Despite lockdowns and the global pandemic the fish supplier stayed afloat and was even able to do swimmingly during the past year.

Share this:
Read More arrow_forward

Public sector trade unions demand CPI plus 4% as final wage demand submitted

1 March 2021 4:02 PM

The demands have been submitted to the general secretary of the Public Service Coordinating Bargaining Council (PSCBC).

Share this:
Read More arrow_forward

'State-sponsored corruption should outrage South Africans' - Sars commissioner

25 February 2021 8:43 PM

'I'm infuriated!' Commissioner Edward Kieswetter says he feels the need to speak truth to power. Strong words on The Money Show.

Share this:
Read More arrow_forward