October 18, 2016 / 5:16 AM / 9 months ago

BRIEF-Pick n Pay Stores H1 HEPS rise 23.7 pct to 82.43 cents

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Oct 18 (Reuters) - Pick n Pay Stores Limited

* Unaudited Condensed Consolidated Interim Results For The 26 Weeks Ended 28 August 2016

* Trading profit margin for 26 weeks ended 28 Aug improved from 1.3 pct to 1.5 pct of turnover. Headline earnings per share increased 23.7 pct on last year

* Is on track with its 2015 plan to create 5 000 new jobs per year by 2020

* Further 2 100 new jobs were created in first half of this year

* Is on track with developing its operations in Ghana and Nigeria, with both businesses in an early start-up phase

* Group turnover at r37.4 billion, increased 7.2 pct on last year

* Like-For-Like turnover grew 3.5 pct (3.8 pct constant currency) with new stores contributing 3.7 pct to turnover growth

* Gross profit increased by 8.2 pct to r6.7 billion. Gross profit margin increased by 0.2 percentage points to 17.9 pct of turnover

* Headline earnings per share (HEPS) - increased 23.7 pct from 66.62 to 82.43 cents per share

* Directors have declared an interim gross dividend (number 97) of 29.90 cents per share out of income reserves Source text for Eikon: Further company coverage:

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