Steinhoff share price up past R2 on Pepco revenue increase
Steinhoff International’s share price is at a 10-month high amid reports its Pepco group may be sold, and after an earnings update
Steinhoff International’s share price initially climbed by more than 20% to a 10-month high on Wednesday, after its Pepco signaled it will report another quarter of double-digit revenue growth, even as the stock was boosted this week by reports that the business may soon be sold.
The Pepco group, which runs Poundland and Pepco discount stores, indicated in a trading update that a 13.3% rise in revenue in its quarter to end-December, amid a rapid expansion of its store base. This was slightly less than the group’s quarter to end-December 2018, when revenue grew 14.6%...