Cape Town - Pepkor, the retail conglomerate, reported yesterday a 22 percent increase in net profit to R292 million in the half-year to December 31, with strong growth from its offshore arm, Brown & Jackson (B&J), offsetting tough domestic trading conditions.
Headline earnings, diluted by additional shares in issue, increased 17 percent to R1,30 a share, while the dividend was lifted to 40c (36c).
Jan le Roux, the chief executive, expected more of the same in the second half. He predicted growth in earnings for the full year to June 30 to match the level of the first six months.
He said the most gratifying aspect of Pepkor's interim results was the strong performance by B&J, whose R200 million net profit was the biggest contribution to Pepkor's bottom line.