Streaming issues? Report here
Refiloe Mpakanyane 1500 x 1500 2020 Refiloe Mpakanyane 1500 x 1500 2020
Weekend Breakfast with Refiloe Mpakanyane
06:00 - 10:00
volume_up
volume_mute

Up Next: Soulful Sundays with Kenny Maistry
See full line-up
Weekend Breakfast with Refiloe Mpakanyane
06:00 - 10:00
Home
arrow_forward
Business

Pepkor Holdings profits fall 34% but gains 'significant' market share

23 November 2020 7:28 PM
Tags:
The Money Show
Pep
Bruce Whitfield
Personal finance
investing
investments
stock picks
results
Pepkor Holdings
pepkor
company results
pepkor holdings results
pepkor results
Leon Lourens

The Money Show’s Bruce Whitfield interviews Leon Lourens, CEO at Pepkor Holdings.

Pepkor Holdings profits fell by 34% in the year to 30 September 2020, the company announced on Monday.

New PEP logo. Image: PEP on Facebook

Right now, trending on The Money Show:


The Steinhoff-owned budget clothing behemoth says it has gained “significant” market share in the clothing, footwear, homeware, and cellular segments.

The company’s sales grew by 3.6% (to R63.7 billion) in the year to the end of September.

Headline earnings per share (HEPS) fell by 34.4% (to 62.6 cents).

It reported losses of R3 billion after write-downs of R4.8 billion.

The company reduced its net debt by R6.9 billion (to R7.1 billion).

The Money Show’s Bruce Whitfield interviewed Leon Lourens, CEO at Pepkor Holdings.

We lost R5 billion of revenue during the first five weeks of lockdown…

Leon Lourens, CEO - Pepkor Holdings

A lot of people bought down into our segment of the market… our market got additional social grants…

Leon Lourens, CEO - Pepkor Holdings

Just after lockdown, queues were very long… It’s our purpose to make lives better… when the economy is under pressure…

Leon Lourens, CEO - Pepkor Holdings

We expect sales this Black Friday to be slightly less than last year… We’re driving digital platforms hard… important this year because of Covid infections… shopping online is safer.

Leon Lourens, CEO - Pepkor Holdings

We’re not sure what Steinhoff’s plans are… We’re operating soundly…

Leon Lourens, CEO - Pepkor Holdings

When Covid hit… we cut back on store openings. But not with PEP and Ackermans… there we continue to expand…

Leon Lourens, CEO - Pepkor Holdings

Listen to the interview in the audio below.


This article first appeared on CapeTalk : Pepkor Holdings profits fall 34% but gains 'significant' market share




23 November 2020 7:28 PM
Tags:
The Money Show
Pep
Bruce Whitfield
Personal finance
investing
investments
stock picks
results
Pepkor Holdings
pepkor
company results
pepkor holdings results
pepkor results
Leon Lourens

More from MyMoney Online

Economy in 2021: 'Expect a better year for South African assets'

15 January 2021 3:02 PM

An economist expects China growth at 9.5%, US money-printing, rising metal prices and trade- and current-account surpluses in SA.

Share this:
Read More arrow_forward

Retirement funds in SA are changing – new laws come into effect on 1 March 2021

15 January 2021 1:23 PM

Bruce Whitfield asks personal finance advisor Warren Ingram to explain in detail the new laws affecting provident funds.

Share this:
Read More arrow_forward

How to buy your very first share – even if you have mere cents to invest

13 January 2021 3:04 PM

You can buy R1 (or even one cent) worth of shares. "The key to getting started is to get started," says Charles Savage.

Share this:
Read More arrow_forward

Buying a new car may be possible – even if you can’t afford the monthly payments

13 January 2021 10:49 AM

Need new wheels? WesBank’s Lebogang Goaaketse discusses a popular method for making repayments more affordable.

Share this:
Read More arrow_forward

Buy hugely discounted properties (up to 70% off) on auction right now

11 January 2021 7:23 PM

Distressed properties on auction are going for a song. Bruce Whitfield interviews property economist Francois Viruly.

Share this:
Read More arrow_forward

Free Covid-19 vaccine for all medical aid members – Discovery CEO

6 January 2021 9:01 AM

"It’s mandatory for medical schemes to pay for for the Covid-19 vaccine," says Dr Ryan Noach, CEO at Discovery Health.

Share this:
Read More arrow_forward

Vaccine optimism is priced in – asset manager

7 December 2020 7:48 PM

Investors are getting ahead of themselves, warns Pieter Hundersmarck, a fund manager at Flagship Asset Management.

Share this:
Read More arrow_forward

Need new wheels? Car subscriptions at a monthly fee have arrived in South Africa

7 December 2020 7:21 PM

Bruce Whitfield interviews Tinashe Ruzane of FlexClub, where you can choose from a variety of car subscriptions for a monthly fee.

Share this:
Read More arrow_forward

Naspers-owned Prosus (owner of Tencent) starts JSE's largest share buyback ever

23 November 2020 7:35 PM

The Money Show’s Bruce Whitfield interviews Basil Sgourdos, CFO at Naspers.

Share this:
Read More arrow_forward

Netcare profits hit by Covid-19. Embarks on a job preservation strategy

23 November 2020 7:05 PM

The Money Show’s Bruce Whitfield interviews Dr Richard Friedland, CEO at Netcare.

Share this:
Read More arrow_forward