Food retailer Pick 'n Pay said in a trading update on Wednesday that it expects headline earnings per share for the year ended February 2005 to be 18 percent to 22 percent higher than the previous year.

The company said that due to the capital profit realised from the sale of Boardmans earlier in the year, earnings per share are expected to increase by 20 percent to 30 percent for financial 2005.

Group results for the financial year are expected to be released on April 19, 2005.

Shares rose 39 cents to end at 22.90 rand on the JSE on Wednesday.

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