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Pepkor expects half-year earnings to rise

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Pepkor says this has been supported by growth at its discount clothing business.

South African retailer Pepkor says it expects half-year earnings to increase by at least 20 percent.The company has also been able to reduce its debt.It comes as South African clothing retailers continue to struggle, with consumers having less disposable income.

But, Pepkor, which is majority-owned by Steinhoff, has benefited from its focus on budget-conscious consumers.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.

 

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