Pick n Pay shows recovery, aims for FY28 break-even

Pick n Pay Stores Limited [JSE:PIK] announced its FY25 results, showcasing a significant turnaround after a challenging period. The group's loss before tax and capital items narrowed substantially to ZAR 237 million from a ZAR 1.4 billion loss in FY24. This recovery was fueled by a ZAR 1 billion reduction in the Pick n Pay segment's trading loss and a 27.3% decrease in net interest paid. Turnover increased 5.6% to ZAR 118.6 billion, boosted by 13.2% growth in Boxer. The company completed a recapitalization, raising ZAR 12.5 billion. Despite progress, Pick n Pay now anticipates breaking even on a trading profit-after-lease-interest basis in FY28, a year later than previously projected. CEO Sean Summers has agreed to extend his tenure to May 2028.