PIK N PAY (PIK)

FY Results: Group turnover was up 5.2% to R18 billion. Gross margins fell 100 basis points to 18.8%. HEPS were up 14.5% to 262.59 cents a share. The dividend was hiked 23% to 221.15 cents. Morgan Stanley's Sean Holmes has an overweight rating on the stock with an 8300c target price