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PEPKOR HOLDINGS LIMITED - Further Trading Statement For The Year Ended 30 September 2021

Release Date: 05/11/2021 08:00
Code(s): PPH PEP02 PEP01 PEP04 PEP03     PDF:  
Wrap Text
Further Trading Statement For The Year Ended 30 September 2021

Pepkor Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2017/221869/06)
Share Code: PPH
Debt Code: PPHI
ISIN: ZAE000259479
(“Pepkor” the “group” or the “company”)


In terms of the JSE Limited (“JSE”) Listings Requirements (the “Requirements”), a listed company
is required to publish a trading statement as soon as it becomes aware that a reasonable degree
of certainty exists that the financial results for the financial period to be reported on next 
will differ by at least 20% from the financial results for the previous corresponding period.

Shareholders and noteholders are referred to the trading statement published on the JSE
Limited’s Stock Exchange News Service (“SENS”) on 5 October 2021 (“Initial Trading Statement”)
whereby shareholders and noteholders were advised that a reasonable degree of certainty
existed that the company’s earnings per share (“EPS”) and headline earnings per share (“HEPS”)
for the year ended 30 September 2021 (“FY21”) will increase by at least 20%.

Pepkor is in the process of finalising its financial results for FY21 and is now able to provide a
further trading statement. Shareholders and noteholders are hereby advised that a reasonable
degree of certainty exists that the group’s statutory EPS and HEPS for FY21 compared to the
previous corresponding period (“FY20”) are expected to fall within the ranges reflected in the table

 Statutory results               FY20 actual          FY21 expected range           FY21 expected
                                   (cents)                  (cents)                    change

 EPS                               (81.2)**               123.0 to 139.2          251.4% to 271.4%

 HEPS                               65.5                  127.5 to 140.6           94.7% to 114.7%

** FY20 EPS was remeasured and restated to reclassify The Building Company as continuing
operations following the termination of the transaction to dispose of the business as announced
on 12 August 2021 on SENS. As a result, the reported FY20 EPS loss per share of 86.2 cents
was restated to a loss per share of 81.2 cents as reflected in the table above. Further detail on
the reclassification will be evidenced in the release of the reviewed results on 19 November 2021.

As communicated in the Initial Trading Statement the increase in EPS and HEPS is attributed to
the following factors:

   -   improved trading performance compared to FY20 which was impacted by COVID-19
       trading restrictions;

   -   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 14 April 2021 on SENS resulted in the derecognition of
       related right-of-use assets and lease liabilities;

   -   reduced finance costs due to the marked reduction in the group’s net debt; and

   -   impairment charges recognised during FY20 which specifically impacted EPS.

The financial information on which this trading statement is based has not been reviewed or
reported on by Pepkor's external auditors.

Pepkor’s reviewed financial results for FY21 will be announced on SENS on Friday, 19 November
2021. A live webcast of the results presentation will be broadcast at 11:00am (“SAST”). The
webcast registration link is: and is also available on
the Pepkor website:

5 November 2021

Equity Sponsor
PSG Capital

Debt Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)


Date: 05-11-2021 08:00:00
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