Pepkor, which already has almost 6 000 stores across brands such as Ackermans and PEP, says continued market share gains in the lower end of the market and a robust result in Brazil have helped it achieve almost 10% interim revenue growth.
Group revenue rose 9.5% to R43.3 billion in its six months to end-March, it reported on Tuesday, with its operating profit up by 4% to R5.1 billion. Margins picked up two percentage points to just over 38%, with the group saying that after a successful back-to-school campaign and successful Easter trading period, its overall market share expanded on a three-, six-, and 12-month basis.
In addition, its Brazilian business, Avenida, fared well in growing its sales by 23.4%, or just over 9% on a like-for-like basis, with Pepkor saying it is looking to ramp up its expansion in South America's largest economy.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.
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