Pepkor retailer rebounds from Covid-19 lows as profit surges

Rebounding from a low base in 2020 when it was affected by lockdown restrictions.
Image: Supplied

South African retailer Pepkor Holdings reported on Friday a 115.2% jump in annual earnings, rebounding from a low base in 2020 when it was affected by lockdown restrictions.

Pepkor, majority owned by Steinhoff, said headline earnings, the main profit measure in South Africa, rose to R5 billion ($320.1 million), up from R2.3 billion a year ago.

The owner of PEP and Ackermans budget clothing chains and electronics stores Incredible Connection declared a final dividend of 44.2 cents.

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