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Release Date: 14/11/2019 17:00
Code(s): PPH     PDF:  
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Trading Statement

(Incorporated in the Republic of South Africa)
(Registration number: 2017/221869/06)
Share Code: PPH
ISIN: ZAE000259479
(“Pepkor”, the “Group” or the “Company”)


In terms of the JSE Listings Requirements, a listed company is required to publish a trading
statement once it is satisfied that a reasonable degree of certainty exists that its financial
results, compared to the previous corresponding period, will differ by at least 20%.

In a difficult trading environment the Group’s major business segments have performed well,
with Pepkor’s defensive discount and value market positioning, disciplined focus on customer
needs and low cost of doing business proving to be resilient.

However, the performance of The Building Company continued to be adversely impacted by
the contraction in the building materials market during the 2019 financial year. The Building
Company represented 13% of Pepkor’s revenue and 3% of operating profit before capital
items in the 2018 financial year.

Following the completion of impairment assessments by Pepkor and its auditors, an
impairment of goodwill and intangible assets associated with The Building Company business,
amounting to R1.2 billion, will be recognised in the 2019 financial year (“Impairment”).

Accordingly, shareholders are hereby advised that for the year ended 30 September 2019,
Pepkor expects:

   •   Earnings per share to be between 57.6 cents and 65.1 cents, which is between 22.1%
       and 32.1% lower than the 83.6 cents reported for the previous corresponding period;

   •   Headline earnings per share, which excludes the Impairment charge and other non-
       headline adjustments, will be between 91.0 cents and 99.4 cents, which is between
       7.7% and 17.7% higher than the 84.5 cents reported for the previous corresponding

Pepkor’s results for the year ended 30 September 2019 are expected to be published on
SENS on Monday, 25 November 2019. A live webcast of the results presentation will be
broadcast at 13:00pm (SAST) on 25 November 2019.

A registration link for the webcast is available on the Company’s website:

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

14 November 2019

PSG Capital

Date: 14/11/2019 05:00:00
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