Pepkor: a strong balance sheet
Operating profit expanded across all of the group’s divisions
Sometimes in investing you just get lucky! (Or, the more lessons you’ve learnt in the market, the luckier you get.)
Last August IM wrote a piece on Pepkor after the share price had fallen about 42%; we concluded that "buying good-quality counters at knock-down prices, providing that structural issues within the business haven’t caused the fall in share price, has proved to be a rewarding investment strategy. Pepkor’s sound business model should ensure that it not only survives the current crisis but gains market share in the medium term."..