Pepkor’s fintech business flies

Pepkor – SA’s biggest listed clothing retailer and a major player in the general merchandise, furniture and electronics trade – is seeing strong growth in its fintech business, on the back of its more than 5800-strong store footprint.

It conceded that this has impacted its interim profits; while it also exited the building materials trade during the period, following the sale of The Building Company. “Strong revenue growth of 9.5% was achieved, driven by robust trading in ‘traditional retail’ which strengthened further into the second quarter. The Easter trading period was successful on a comparable basis, with double-digit sales growth achieved by Pep, Ackermans and Specialty , and high single-digit sales growth in JD Group.

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