Led by South African Ackerman family, Pick ‘n Pay reports double-digit increase in retail sales across Africa
The Cape Town-based retail behemoth operates more than 2,000 stores across eight African countries.
The Cape Town-based retail behemoth operates more than 2,000 stores across eight African countries.
The Ackerman family owns a significant 25.53-percent stake in the leading retailer, totaling 124,677,238 ordinary shares.
The $15.04-million dividend was drawn from the group’s retained earnings of $306.5 million.
Members of the Ackerman family own a significant 25.53-percent stake in the leading retailer, or 124,677,238 ordinary shares.
The single-digit sales growth was driven by an increase in liquor and clothing sales during the period under review.
However, the retailer’s financial performance was materially impacted by civil unrest in South Africa.
A sell-down in Pick ‘n Pay shares triggered a $200.14-million loss for the company on the Johannesburg Stock Exchange.