Chairman's report

Gareth Ackerman
We are encouraged by the progress achieved across the business over the past year, and illustrated in this integrated annual report. Both in our annual financial results and in our underlying performance, we see evidence of tangible improvement. However, as Richard Brasher and our senior management team frequently emphasise, much more remains to be done.

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Chief Executive Officer's report

Richard Brasher
Our business is stronger than it was a year ago. We are at the foothills, not the summit, of our climb. We have a plan to reach the summit and the determination to succeed.

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Key indicators*

* Financial information based on pro-forma information. Refer to note 29 of the Group financial statements .

Pick n Pay at a glance

Pick n Pay has played a valuable role in the economic and social development of South Africa over the last five decades.
The Group now has 1 076 stores across all formats, directly employs people 50 000 (excluding our franchise stores) and is supplied by more than 5 000 suppliers and service providers.
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