Retailer Pepkor will be exiting the Zimbabwean market after the country’s economic crisis has hurt the business making a loss of about R70 million. The company also cut its earning per share by a quarter due to an impairment charge in its building company business. Headline earnings for the retailer grew by 14.5 per cent and revenues from continuing operations grew by 9 per cent to R69.6 billion. Pepkor CEO, Leon Lourens joins CNBC Africa for more.
Retailer Pepkor exits Zim market as economic conditions worsen
PUBLISHED: Mon, 25 Nov 2019 10:30:16 GMT