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MarketScreener Homepage  >  Equities  >  Johannesburg Stock Exchange  >  Pick n Pay Stores Limited    PIK   ZAE000005443

PICK N PAY STORES LIMITED

(PIK)
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South African retailer Pick n Pay launches mobile phone service

11/18/2020 | 11:43am EST

JOHANNESBURG, Nov 18 (Reuters) - South African grocery retailer Pick n Pay will start providing mobile phone services to try to grow its value-added and financial services business, seeking to drive down data costs for its customers.

Rather than building infrastructure, Pick n Pay will operate as a mobile virtual network operator, or MVNO, using MTN's mobile network infrastructure to offer customers prepaid, SIM-based access to services including airtime, data, and SMS, sold under its PnP Mobile brand, it said on Wednesday.

MVNOs, which typically target the value segment, lease wireless capacity at wholesale prices and resell it at reduced retail prices.

"Our country has a very high mobile phone penetration, but data costs have been a barrier. We believe expanding our services to enter the mobile market will benefit millions of our customers," said Richard van Rensburg, Chief Technology and Services Officer at Pick n Pay.

Africa's most industrialised economy has one of the highest data prices on the continent, according to Competition commissioner Tembinkosi Bonakele. Data costs have come down after mobile operators were forced to cut prices last year.

PnP Mobile, which joins retail peer Mr Price in the MVNO space, will be linked to the retailer's Smart Shopper loyalty rewards program. (Reporting by Nqobile Dludla Editing by Keith Weir)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
MR PRICE GROUP LIMITED 1.48% 169.19 End-of-day quote.-0.86%
MTN GROUP LIMITED -1.83% 64.33 End-of-day quote.6.88%
PICK N PAY STORES LIMITED 0.38% 52.21 End-of-day quote.3.88%
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Financials
Sales 2021 93 445 M 6 146 M 6 146 M
Net income 2021 1 263 M 83,1 M 83,1 M
Net Debt 2021 16 934 M 1 114 M 1 114 M
P/E ratio 2021 19,8x
Yield 2021 4,93%
Capitalization 25 527 M 1 677 M 1 679 M
EV / Sales 2021 0,45x
EV / Sales 2022 0,42x
Nbr of Employees 90 000
Free-Float 69,4%
Chart PICK N PAY STORES LIMITED
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Technical analysis trends PICK N PAY STORES LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 61,75 ZAR
Last Close Price 52,21 ZAR
Spread / Highest target 28,3%
Spread / Average Target 18,3%
Spread / Lowest Target 11,1%
EPS Revisions
Managers and Directors
NameTitle
Richard W. P. Brasher Chief Executive Officer & Executive Director
Gareth Mark Ackerman Chairman
Lerena Olivier Chief Financial Officer & Executive Director
Richard S. J. van Rensburg Executive Director & Chief Information Officer
Penny Gerber Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
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