Ghost Biz - 27 November 2025
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Today in Ghost Biz, Gary Stroebel and The Finance Ghost discuss:
• Pepkor — strong Full-Year results with revenue, margins, and HEPS all rising; fintech booming; and a major new development: Pepkor is officially starting a bank after receiving regulatory approval.
• Spar — still struggling through a messy turnaround as franchise challenges, weak omni-channel execution, and costly international exits weigh on earnings.
• Prosus — solid revenue and e-commerce profit growth, improved free cash flow outside Tencent, and big expectations on recent acquisitions to prove their value in 2026.
• Pepkor — strong Full-Year results with revenue, margins, and HEPS all rising; fintech booming; and a major new development: Pepkor is officially starting a bank after receiving regulatory approval.
• Spar — still struggling through a messy turnaround as franchise challenges, weak omni-channel execution, and costly international exits weigh on earnings.
• Prosus — solid revenue and e-commerce profit growth, improved free cash flow outside Tencent, and big expectations on recent acquisitions to prove their value in 2026.
