Reducing debt remains its objective even if it does not take place quickly, CFO says
Pepkor will miss its debt reduction targets due to the coronavirus-
The ratio, which shows how well a company’s earnings covers its debts, is often used by banks in calculating how much interest it charges on a firm’s borrowings. Some business such as Long4Life have said some Sorbet Beauty salons may not reopen with Spur warning some of its franchise restaurants will remain shut too.
It spent R1.2bn on bringing short-term credit provider Capfin in-house and reinvesting in new credit, which decreased profit. In a virtual results presentation, Hanekom said the group has had several discussions about renegotiating debt agreements with banks but did not give more details.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MARIUS VAN DEN BERG: Banks need to embrace digitalisation as the new normalA cashless banking environment in a digital world is all but inevitable, as payment systems become more important than branches
Read more »
Chester Missing is going to end racism … really?“The truth is that racism is like bad décor. Unless you actually face it, it’s still there.” Smack-talking latex puppet Chester Missing and the guy who hangs around with him, Conrad Koch, have a new show opening this Friday.
Read more »
POLL | Should government allow sit-downs in restaurants under level 3 lockdown?President Ramaphosa said sit-ins at restaurants will not be allowed under lockdown level three.
Read more »
Fears of 'mountain of debt' for SA in wake of the coronavirusEconomists and political analysts say they fear the massive mountain of debt awaiting South Africa and the world at the end of the Covid-19 pandemic.
Read more »
WATCH: How A2X has fared during the pandemicA2X CEO Kevin Brady talks to Business Day TV about the alternative exchange
Read more »
WATCH: How A2X has fared during the pandemicA2X CEO Kevin Brady talks to Business Day TV about the alternative exchange
Read more »