The last coverage of Pepkor was on 05.04.2023 and the share has traded as forecasted, link below.
Pepkor released interim results for the six months ended 31 March 2023 on 30.05.2023. ● 4.3% growth in revenue to R43.8 billion ● 9.8% decrease in operating profit to R5.1 billion (before capital items) ● 11.7% decrease in HEPS to 80.8 cents (8.6% decrease in normalised HEPS) ● Cost growth well managed below inflation ● Market share gains in key product categories ● Avenida business in Brazil performing above expectation ● 168 new stores opened ● Continued portfolio optimisation progress
This date might prove to be significant as it looks like the results day sell-off created a bottom at 1330 and completed wave (v) of ((c)) of 4. The share started to rally impulsively the next day and has now also broken out of the downtrend channel, adding further conviction that the trend is probably changing.
Buy the dip is the strategy as long as 1330 holds.