For the six months ended 31 March 2024, Pepkor’s fintech unit reported a 24.5% increase in revenue to R5.8 billion, contributing to the group’s overall revenue growth of 9.5% to R43.3 billion. Despite this growth, headline earnings per share declined by 3.1%, impacted by strategic investments and the exit from the building materials sector. Capital expenditure for its Fintech business reached R3.1 billion, reflecting Pepkor’s commitment to this area. The group also opened 111 new stores during the period, expanding its total store base to 5 823. However, the introduction of US e-commerce giant Amazon to South Africa is expected to increase competition, particularly for Pepkor’s JD Group unit.
