Pepkor shares at six-month low on weak first-half results
Uncertainty over the future of its controlling shareholder, Steinhoff, also had an effect
29 May 2019 - 18:58
Weaker-than-expected first-half results from clothing and general merchandise retailer Pepkor, combined with the continued uncertainty around the future of its controlling shareholder, Steinhoff, has knocked the Pepkor share price to a six-month low. .
The share price of the retailer, which has had a tumultuous 21-months since it was listed on the JSE as Steinhoff Africa Retail in September 2017, touched a low of R16.40 on Wednesday before recovering marginally to close at R17.32, down 2.15%. In a bid to distance itself from its controlling shareholder, during 2018, the board renamed the group Pepkor...
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