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Pick n Pay released its interim results for FY24, concerning the period from late February to late August 2023. To everyone’s surprise, the result was worse than expectations, with a 97.1% drop in trading profit, attaining only ZAR31.8m, indicating a significant drop from FY23 ZAR1.25 bn profit.
This in-depth guide to South Africa explores the key trends in grocery retail and the growth strategies of the leading retailers in the country.
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