Pick N Pay Stores Ltd (OTCPK:PKPYY)
$ 6.84 0 (0%) Market Cap: 1.01 Bil Enterprise Value: 2.23 Bil PE Ratio: 0 PB Ratio: 6.74 GF Score: 72/100
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Half Year 2020 Pick N Pay Stores Ltd Earnings Call Transcript

Oct 22, 2019 / 06:30AM GMT
Release Date Price: $20.72
Gareth Mark Ackerman
Pick n Pay Stores Limited - Non-Executive Chairman

Good morning, ladies and gentlemen. Welcome to our interim results presentation. It's great to see a good turnout this morning. And I'd like to start off by particularly welcoming our new CFO, Lerena Olivier, who's going to be presenting results for the first time. So Becker who's here somewhere says, "I'm here, please don't ask me questions. I know what the result is, but it's not my problem, talk to Lerena." So thank you very much for coming. It's been a really complicated results to repair -- to prepare.

This year, our team has had to wade its way through incredible accounting complexities of IFRS 16. We've had hyperinflation in Zimbabwe, and we've had a change in the way we report our airtime sales and our turnover. And our team has been working, I don't know, it must be, what, about 2 years to get the IFRS 16 stuff done. And we really to need to commend them for the huge amount of positive work they've done on that.

I've talked in the past about where the frequent complex changes in accounting rules aid

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