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File Steinhoff-controlled Pepkor said it saw a 50.6% increase in headline earnings per share with revenue of R36.5 billion and a 18.5% growth in operating profit. On Thursday, the group said strong operational performance in addition to a significantly lower level of debt resulted in the growth of headline earnings per share for the six-month period ended 31 March 2021. Pepkor owns Ackermans, Pep, and JD Group - which includes brands such as Joshua Doore, Incredible Connection and Hi-Fi Corporation. The group saw 8.1% growth in revenue to R36.5 billion while it also reduced net debt by R8 billion to R6.1 billion. The group said it has made excellent progress in strengthening its balance sheet and liquidity, which will support its investment in growth opportunities. ....
Steinhoff-controlled Pepkor now expects half-year headline profit growth of between 38% and 58%. This is considerably more than its previous trading statement, released two weeks ago, which forecast a gain of at least 20% from its continuing operations. Pepkor owns Ackermans, Pep as well as JD Group, including brands like Joshua Doore, Incredible Connection and Hi-Fi Corporation. The profit gain is thanks to a strong trading performance, with Pepkor previously saying revenue from continuing operations rose by more than 8% to R36.5 billion for the six months to end-March – compared to the same half-year in the previous period, which was still largely unaffected by the pandemic. ....
AfricaSouth Africa s Pepkor H1 profit seen up 20% as cash-strapped shoppers seek value Reuters 3 minutes read South African retailer Pepkor Holdings (PPHJ.J) said on Wednesday half-year earnings were expected to rise by at least 20%, supported by growth at its discount clothing business and a reduction in net debt and finance costs. South African clothing retailers have been hit as a second wave of COVID-19 infections and job losses constrain discretionary spending. However, Pepkor, majority-owned by Steinhoff (SNHJ.J), is faring better than others with its focus on budget-conscious consumers, including more than 17 million South Africans on welfare and special COVID-19 grants. ....
But, Pepkor, which is majority-owned by Steinhoff, has benefited from its focus on budget-conscious consumers. These consumers include over 17 million South Africans on welfare and special COVID-19 grants. The furniture, appliances and electronics division, which includes Incredible Connection and Hi-Fi Corporation has reported revenue growth of over 12-percent thanks to more people working and studying from home. Source ....
By Reuters Staff 2 Min Read JOHANNESBURG (Reuters) - South African retailer Pepkor Holdings said on Tuesday that sales in its first quarter rose by 7.7% as it continued to acquire market share as cash-strapped shoppers battling job losses turned to its budget outlets. Group revenue at the clothing and homeware retailer grew to 20.3 billion rand ($1.33 billion) in the three-month period ended Dec. 31 from 18.9 billion rand a year earlier. South African clothing retailers have been hit as a second wave of the COVID-19 pandemic and job losses constrain discretionary spending. However, Pepkor, majority-owned by Steinhoff, is faring better than others with its focus on budget-conscious consumers, including more than 17 million South Africans on welfare and special COVID-19 grants. ....