Pepkor reported a 10.3% rise in half-year earnings, driven by acquisitions, strong demand for affordable clothing, and continued growth across its financial services business. The South African retail giant said headline earnings per share from continuing operations rose to 93.1 cents in the six months ended March 31, according to Reuters.
The owner of major retail brands including PEP and Ackermans recorded revenue growth of 13.2% to 54.8 billion rand, supported by expansion in its clothing and general merchandise segment. Analysts said the company benefited from resilient consumer demand for value-focused fashion products despite continued pressure on household spending in South Africa.
Pepkor’s recent acquisitions, including Legit, Swagga, Style, and Boardmans, also contributed to stronger sales performance as the group expanded deeper into the adult clothing and lifestyle market. Revenue from financial services surged more than 40%, reflecting growing demand for insurance, credit products, and digital financial offerings among consumers, as reported by MarketScreener.
Retail analysts say Pepkor’s performance highlights the resilience of discount retail in challenging economic conditions, particularly as consumers increasingly prioritise affordability and value. They note that the company’s expansion strategy across retail, fintech, and consumer services continues strengthening its position within Africa’s competitive retail sector.
