Pick n Pay spends R110m on battle against load shedding
Retail giant Pick n Pay has spent R110 million on combatting the impact of load shedding in the first half of the financial year.
The group released its financial statements on Tuesday morning.
This comes as the country suffers through the worst bout of power cuts in its history.
"For the 26 weeks ended 28 August 2022. The combined impact of increased load shedding and sharp fuel price increases has been felt particularly hard," read the statement.
"The Group spent R110 million more on energy costs in H1 FY23 than the comparable period, reflecting extra spend on diesel net of electricity cost savings. "
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Pick n Pay predicts it will also feel the impact of load shedding in the second half of the financial year.
"Given that load shedding accelerated in the latter part of the period, the H2 impact is likely to be more severe," says the statement.
South Africans woke up to a notice by the power utility on Tuesday morning which saw stage 4 load shedding being implemented until "further notice".
