Steinhoff - comment

Pepkor have published their quarterly results to March. The results however have been recently overshadowed by a flood in Durban in early May that heavily damaged a distribution centre. As such the quarterlies, which date back to before the food are having limited impact. Still, while revenue growth has slowed down following last year’s civil unrest, gross profit margins are up at 35%. Inventory is high from dealing with the disruption.