Pepkor’s 2021 headline earnings per share expected to rise over 94%

Results expected on November 19.
Image: Waldo Swiegers/Bloomberg

Pepkor expects its headline earnings per share (Heps) for the financial year to September 30, 2021, will increase by 94.7% to 114.7% (127.5 cents to 140.6 cents).

In its trading statement on Friday Pepkor ascribed the increase to several factors, including an improved trading performance compared with FY20,which was impacted by the Covid-19 trading restrictions; as well as reduced finance costs, due to a marked reduction in the company’s net debt and impairment charges recognised during FY20 which specifically impacted earnings per share.

Another factor was the lease modification gains in terms of IFRS 16 as a result of favourable lease renewals and retail footprint consolidation in specific retail brands.

“The acquisition of a portfolio of leased properties as announced on April 14 on Sens resulted in the derecognition of related right-of-use assets and lease liabilities,” the group said.

The share has climbed steadily over the past year and is up almost 90% year-to-date after falling in 2020.

Pepkor shares over three years

The group is expected to publish its annual results on November 19.

Palesa Mofokeng is a Moneyweb intern.

COMMENTS   0

You must be signed in and an Insider Gold subscriber to comment.

SUBSCRIBE NOW SIGN IN

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
BTC / USD

Podcasts

Instrument Details  

You do not have any portfolios, please create one here.
You do not have an alert portfolio, please create one here.
INSIDER SUBSCRIPTION APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING

Follow us: