🟢 Pick n Pay Stores is trading 13% up after headline loss narrowed 31.9%

Pick n Pay Stores is trading at €1.16 (+12.62%) after its October 26 interim results showed its headline loss narrowed 31.9% to R299 million.

• Group trading profit rose 58.1% to R490 million, while the supermarket segment’s trading loss narrowed 16.9%.
• Boxer’s trading profit rose 8.1% to R1.0 billion. The results were the clearest company-specific catalyst for the October 27 move; the core supermarket business remains loss-making, so recovery is still in progress.