South African retailer Pick n Pay’s profit recovery strengthens as Sean Summers cuts first-half loss by nearly a third

South African retaile r Pick n Pay reduced its first-half headline loss by nearly a third as chief executive Sean Summers’ turnaround programme began to produce measurable financial improvements. Pick n Pay reduced its first-half headline loss by 31.9% to $18 million. Trading profit rose 58.1% as higher margins and…