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#1 Squideye

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Posted Yesterday, 07:29 PM

Pepkor to sell John Craig as demand for formal men’s wear declines
Group in talks with a potential buyer as focus shifts to growing its middle-income brands.
Pepkor is selling men’s fashion retailer John Craig as the appetite for expensive brands and formalwear wanes. The sale comes as the group plans to focus on growing its middle-income brands, such as Refinery that sells adult clothing.
Pepkor CEO Leon Lourens said the company is in talks with a potential buyer, though the details have not been released.....
 

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#2 Investment novice

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Posted Yesterday, 12:33 PM

Naidoo self funding his interest paid a commission in millions for setting up deals for pic.....needs investigating...not sure why we have tolerated this . I have been vocal about this chap years back ......who is protecting him....whats his share of the blame....
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#3 Investment novice

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Posted Yesterday, 12:31 PM

How does the ipo impact the carrying value. What percentage of this will steinhof still own....whats the net impact. C0nsidering proceeds will be used to fund growth...
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#4 Squideye

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Posted Yesterday, 05:37 AM

Fantastic talks up to 11x profit for IPO.
 
It's down to the short strokes at furniture business Fantastic Brands and its pitch to return to the ASX boards via an initial public offering.
 
Management is due to wrap up meetings with potential investors on Wednesday night, before its brokers Credit Suisse and Macquarie Capital open the books on the mooted raising.
 
Fund managers reckon Fantastic Brands, which is the holding company for Fantastic Furniture, has been talking about a deal at nine to 11-times forecast profit, which would value the group at $430 million to $530 million based on forecasts in the group's pathfinder prospectus.
 
Rival listed furniture company Nick Scali is trading at 12.5-times next 12-month profit according to S&P Global Market Intelligence, while Harvey Normal Holdings is at 11.7-times and Adairs is at 12.9-times.
 
Fundies said formal terms for Fantastic's deal were yet to land, however the capital was due to be raised and a prospectus lodged with the corporate regulator later this week, according to draft timetables in front of potential investors.
 
The big question is how much owner Greenlit Brands will sell as part of the listing, which will ultimately determine the offer size.
 
Greenlit is a seller, which is why Fantastic Brands is lining up for an initial public offering only four years after Greenlit's predecessor, Steinhoff Asia Pacific, took it off the ASX-boards.
 
However funds were told it is price sensitive; towards the top of the price talk, Greenlit would be likely to let more stock go, while at the bottom end it's happy to retain more stock and wait for greener pastures.
 
The price and terms are expected to be determined and sent to fund managers in coming days.
 
Sales up 17.3% a year, EBITDA up 69.4%
Meanwhile, Fantastic management has also pitched Canaccord Genuity and Shaw and Partners' networks, hoping to find retail investor support for the company. The two brokers are co-lead managers.
 
Potential investors were told Fantastic sales had grown at 17.3 per cent a year over the past two years, which was more than double the wider Australian home furnishings market, while EBITDA was up 69.4 per cent a year, also on a proforma basis.
 
Fantastic forecast $47.6 million net profit in the 12 months to June 2021, according to numbers in front of fund managers, which would be up from $38.5 million in the year to June 2020. Sales were slated to increase to $650.7 million from $550.7 million.
 
The company said it had 81 stores, which double as service and fulfilment centres under the "click and collect" model.
 

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#5 Squideye

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Posted 23 November 2020 - 06:29 PM

Provisions Hit Pepkor’s FinTech Business Profit.
 
The trader business in the informal market now includes 194 000 traders.
 
Retailer Pepkor, previously Steinhoff Africa Retail, said on Monday operating profit in its financial technology (FinTech) services business dropped by 5.8% to R455 million in the year to end-September 2020......>
 

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#6 Squideye

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Posted 23 November 2020 - 06:22 PM

Pepkor's LL on Business Day TV @


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#7 Squideye

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Posted 23 November 2020 - 03:14 PM

Skryf net in. Die eerste 30 dae is gratis @ https://www.netwerk2...ndemie-20201123
 
Pep, Ackermans wen markaandeel.
 
Die bekostigbaarheid van sy produkte en die verhoging in maatskaplike voordele wat arm mense ontvang, het Pepkor se winkels, soos Pep en Ackermans, die afgelope maande bevoordeel.
 
Leon Lourens, uitvoerende hoof van Pepkor, sê die groep het sedert Mei wesenlike markaandeel gewen, deels omdat verbruikers in die moeilike ekonomiese tye na goedkoper basiese produkte soek.
 
“As jy kyk na al die resultate wat ander kleinhandelaars gepubliseer het die afgelope tyd, het ons verreweg beter as hulle presteer, en dit beteken ons vat markaandeel van almal in die mark weg.”
 
Die groep se verkope het in die vierde kwartaal van sy boekjaar, tot einde September, herstel en met 12% jaar tot jaar gestyg vergeleke met die derde kwartaal se daling van 15,9%.
 
Volgens Lourens het die sterk momentum in verkope in Oktober en November voortgeduur, met ’n dubbelsyfer-styging in vergelykbare verkope (dus uitgesluit nuwe winkels) wat deur Pep en Ackermans en van sy ander winkels aangemeld is.
 
Hy skryf dit toe aan die markposisie wat die groep het in die laerinkomstemark of die massamark, asook nuwe klante wat gewen is.
 
“’n Klomp verbruikers wat op soek is na waarde, goeie pryse en bekostigbaarheid het na daardie mark toe afgekoop.”
 
Hy sê die verhoging in maatskaplike toelae aan armes het ook gehelp.
 
“In daardie opsig het die regering se poging om die ekonomie aan die gang te hou ons ook indirek gehelp.”
 
Veral Pep en Ackermans het voordeel getrek uit die bykomende maatskaplike toelae wat betaal is.
 
Die ligging van die groep se winkels het gehelp omdat verbruikers winkelsentrums vermy het. Baie van sy winkels is naby sy klante geleë.
 
Lourens skryf ook die markaandeel wat gewen is toe aan hoe die groep sy voorraad bestuur het.
 
“Ons moes redelik vinnig aanpas by die veranderinge in die voorraadketting.”
 
Verloor miljarde se verkope
 
Die groep se inkomste het in die boekjaar tot einde September met 3,6% tot R63,7 miljard gestyg.
 
As nuwe winkels uitgesluit word, het verkope nie vergeleke met die ooreenstemmende tydperk gegroei nie.
 
In die eerste streng fase van die inperking het die groep R5 miljard se verkope verloor. Interne inflasie van 9% is beïnvloed deur die wisselkoers omdat baie aankope in dollar plaasvind en dit inflasie opstoot as die rand verswak.
 
Hy sê sowat 10% minder items is in die boekjaar verkoop.
 
Verbruikerskrediet
 
Die bedryfswins voor kapitaalitems het met 18% tot R5,3 miljard gedaal.
 
Dit is deels weens die R5 miljard se verkope wat verloor is tydens die eerste paar weke van die inperking, maar ook weens debiteurekoste wat skerp gestyg het.
 
Debiteurekoste het met 48% tot R1,7 miljard gestyg as gevolg van die toename in slegte skuld en die voorsiening vir moontlike slegte skuld in die verbruikerskredietboeke.
 
Lourens sê die voorsiening wat vir slegte skuld gemaak is, is baie konserwatief.
 
“Ons weet nog nie hoe dit gaan verloop en wat die rol gaan wees wat die Covid-19-pandemie gaan speel nie.”
 
Volgens hom is die slegte skuld erger as verlede jaar, maar beter as wat hulle verwag het in die lig van die hoër werkloosheid en mense wat hul poste tydelik verloor het.
 
Lourens glo die winsposisie is goed onder die omstandighede. “Ons is baie tevrede. As ons met ander kleinhandelaars vergelyk word, is dit ’n goeie prestasie.”
 
Afskrywings
 
Die groep se wins is ook getref deur ’n afskrywing van R4,8 miljard aan klandisiewaarde wat voortspruit uit die swakker groeiverwagtinge wat vir sy verskillende kettingwinkels in die vooruitsig gestel word.
 
’n Evaluering word elke jaar van die waarde van die ondernemings in die groep gedoen.
 
Lourens sê die verandering in die omstandighede weens Covid-19 het die verwagting vir verkope in die toekoms vir sekere ondernemings verlaag.
 
Die afskrywing sluit in Tekkie Town se waardasie, wat met ’n reusebedrag van R1,6 miljard verlaag is.
 
Pepkor het ’n nabelaste verlies vir die jaar uit voortgesette bedrywighede van R2,8 miljard getoon.
 
Die afskrywings het bygedra tot die verlies per aandeel van 62,5c. Die wesensverdienste per aandeel het met 21% gedaal omdat die afskrywings uitgesluit word.
 
Kontant styg skerp
 
Die kontant geskep uit bedrywighede het R9,2 miljard beloop ná proaktiewe kostebestuur, minder krediet wat aan verbruikers verskaf is en beter as verwagte skuldinvordering.
 
Tesame met nuwe aandele wat uitgereik is om geld van beleggers in te samel wat in Junie plaasgevind het, kon die groep sy netto skuld van R14,1 miljard einde Maart tot R7,1 miljard einde September verlaag.
 
Die groep het met sy halfjaarresultate einde Mei aangekondig geen dividend gaan verklaar word nie.

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#8 andi222

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Posted 23 November 2020 - 09:40 AM

Unfortunately pepkor has generated a loss of 3 Billion rand. Also they have not declared a dividend so Steinhoff is not seeing any cash.

Good points:
Pepkors balance sheet is getting super strong
Net debt reduced to 7 Billion.
Cash generated from operations shot up from 0.5 billion to 8.5 billion.

All in all I think they are on track. I really do hope that no further impairments for 2021 are planned.

We need to see profits and I hope 2021 we will have a massive profit if we don't have once off items impacting the results again.

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#9 Squideye

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Posted 23 November 2020 - 08:47 AM

Pepkor reports market share gains as pandemic pressures consumers. https://www.business...ures-consumers/

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#10 DayTraderDad

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Posted 23 November 2020 - 08:32 AM

 

REVIEWED ANNUAL RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
Pepkor achieves substantial market share gains during the COVID-19 pandemic
 

 

The Pepkor group achieved an exceptional performance during a challenging year as COVID-19
and the resultant lockdown protocols exacerbated an already weak consumer retail market.
Despite having lost approximately R5.0 billion in revenue through COVID-19 trading restrictions,
the group managed to achieve positive revenue growth for the year which is an outstanding result.

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#11 DayTraderDad

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Posted 23 November 2020 - 08:23 AM

REVIEWED ANNUAL RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
Pepkor achieves substantial market share gains during the COVID-19 pandemic
 

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#12 Zanme

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Posted 22 November 2020 - 10:03 PM

Post this in sasol share chat, not steinies !


Is steinies your pet name... So sweet ag tog.
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#13 Zanme

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Posted 22 November 2020 - 10:01 PM

Post this in sasol share chat, not steinies !


Steinhoff Shareholders can learn
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#14 DeltaHedge

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Posted 22 November 2020 - 05:47 PM

https://www.news24.c...at-agm-20201120


Post this in sasol share chat, not steinies !

Edited by DeltaHedge, 22 November 2020 - 05:47 PM.

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#15 Zanme

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Posted 22 November 2020 - 11:57 AM

https://www.news24.c...at-agm-20201120
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#16 Zanme

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Posted 22 November 2020 - 11:57 AM

https://www.news24.c...at-agm-20201120
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#17 DayTraderDad

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Posted 20 November 2020 - 06:14 PM

How will Steinhoff benefit from this ie the company ie us shareholders not management consultants lawyers and litigants? Ddt?

Hi Zanme if you note before there was talk of having Greenlit Brand IPO for Aus$800 now only one of the units is going for the same price therefore its a great improvement. You and I will benefit because SNH debt will be reduced. I agree with you fully lawyers making a killing out of SNH but guess what its shareholders that are supporting them and management has to spent lots of time and money to defend. So if the greedy shareholders stopped their claims this whole thing would go away. The reality is lawyers have hipped up the shareholders with the idea they are entitle to have a guarantee when trading shares. The problem with the world the lawyers managed to put themselves in such a position where anything is a law suite. So Zanme the best you can do is speak to the greedy shareholders and tell them to accept the settlement so we can move on and see a good rise in the share price.


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#18 Zanme

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Posted 20 November 2020 - 05:27 PM

How will Steinhoff benefit from this ie the company ie us shareholders not management consultants lawyers and litigants? Ddt?
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#19 Squideye

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Posted 20 November 2020 - 02:46 PM

Fantastic Furniture is ready to be listed on the ASX

Australian furniture retailer Fantastic Furniture has appointed Harry Boon as the company's chairman, preparing to list on the Australian Stock Exchange next month. According to reports, Fantastic will start meeting with potential investors on November 20 (Friday) to prepare for the establishment of the book next weekend. The project pointed out that Credit Suisse’s valuation of the company is between A$762 million and A$959 million, while Macquarie analysts’ valuation of the company is between A$435 million and A$669 million. Listed in mid-month. The group is sold by Greenlit Brands, a subsidiary of Steinhoff International.

Fantastic will use floating earnings to enter the New Zealand market and expand its Australian stores. (The Australian)

https://www.chainnew...57717484898.htm


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#20 Squideye

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Posted 20 November 2020 - 10:04 AM

Fantastic Furniture IPO: Select the article's 3 dots @ https://www.pressrea...&type=2&state=2 and LISTEN to the audio...


Edited by Squideye, 20 November 2020 - 10:06 AM.

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