South Africa’s Pick n Pay narrows losses, aims for core business to break even by 2028

By Nqobile Dludla

South African grocery group Pick n Pay on Monday reported a narrower full-year loss before tax, reflecting a lower trading loss in its core supermarket business, and said it expects that unit to now break even in 2028.

The country’s second biggest grocery retailer by southern Africa turnover is in the middle of a turnaround aimed at regaining customers and returning to profitability after years of losing market share to bigger rival Shoprite  and underperforming stores.

Pick n Pay’s loss before tax and capital items came in at 237 million rand ($13.3 million) in the 53 weeks ended March 2, from a loss of 1.4 billion rand the previous year.

The full-year trading loss in its core Pick n Pay business narrowed by 1 billion rand to 549 million rand, the company said.

The results were also supported by a 27.3% reduction in net interest paid as the