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19-Oct-2017
(Official Notice)
17-Oct-2017
(Official Notice)
Shareholders are advised that, at the annual general meeting (?AGM?) of Lewis held on Tuesday, 17 October 2017, all ordinary and special resolutions were passed by the requisite majority of shareholders present and represented by proxy at the meeting.



Trading update

A trading update for the six months ended 30 September 2017 will be released by no later than 27 October 2017.

17-Oct-2017
(Official Notice)
The board of directors of Lewis Group ("the Board"),hereby advises shareholders that Mr. B.J. van der Ross has retired as non-executive director from the board at the Company?s annual general meeting held on 17 October 2017. Accordingly, Mr. van der Ross also retired from the board committees that he serves on.



Changes to the company secretary

Lewis Group shareholders are advised that Ms. M G McConnell has resigned from her current position as company secretary.



Mr. P B Croucher has been appointed as acting company secretary with effect 18 October 2017. Mr. Croucher previously served as company secretary from 19 November 2004 until 18 March 2008.

02-Oct-2017
(Official Notice)
Shareholders are advised that Lewis has purchased 2 941 739 (3% of issued share capital at beginning of share repurchase program) of its own ordinary shares in terms of the general authority granted by shareholders at the company?s annual general meeting held on 21 October 2016. The company has fully utilised its authority to conduct a general repurchase of shares granted at said annual general meeting.



The general repurchase was effected through the order book operated by the JSE trading system without any prior understanding or arrangement between Lewis and the counter parties. No shares were repurchased during any prohibited period. The repurchase was funded from available cash resources.
31-Aug-2017
(Official Notice)
30-Jun-2017
(Official Notice)
With regard to the audited results for the year ended 31 March 2017, shareholders are advised that the integrated annual report (?IAR?), which incorporates a summary of the group annual financial statements (hereinafter referred to as summary financial statements), and the complete audited annual financial statements of the group is available on the group?s website, www.lewisgroup.co.za.



Shareholders are advised that the integrated report and summary financial statements will be posted on or about Wednesday, 5 July 2017. The audited financial statements and the summary financial statements contain no modification to the results that were published on SENS on 24 May 2017. The annual financial statements and the summary financial statements were audited by PricewaterhouseCoopers Inc. The unqualified audit reports are available for inspection at our registered office.



Notice of AGM

The thirteenth annual general meeting of shareholders will be held at: Lewis Group Head Office, Universal House, 53A Victoria Road, Woodstock, 7925, Cape Town on Tuesday 17 October 2017 at 08h30 to transact business as stated in the notice of the annual general meeting which forms part of the integrated annual report.



Annual compliance report

In accordance with paragraph 16.20 (g) and Appendix 1 to Section 11 of the JSE Listings Requirements, notice is hereby given that the Company?s BBBEE annual compliance report in terms of section 13G(2) of the Act has been published on the Company?s website at www.lewisgroup.co.za .
05-Jun-2017
(Official Notice)
Shareholders are advised that today the National Consumer Tribunal (NCT) handed down judgment in Lewis? favour in the matter between the National Credit Regulator (NCR) and Lewis Stores (Pty) Ltd (Lewis), which the NCR initiated in 2016 in relation to the issues of club fees and extended warranties. In a majority judgment, the NCT found that:

*The National Credit Act (Act) does not prevent credit providers from offering the services of a club to consumers, provided these services are not part of the cost of credit. It was found that the club fees charged by Lewis do not form part of the cost of credit of any credit agreement between Lewis and its customers;

*The Act provides that Lewis may include the cost of an extended warranty as part of its fees and charges in its credit agreements with consumers and does not prescribe the terms and conditions of the extended warranty offered by Lewis to its customers.



Accordingly, the NCT dismissed the application of the NCR against Lewis. A copy of the judgment can be requested from Ms Diane Rafferty at our Head Office. diane.rafferty@lewisgroup.co.za

24-May-2017
(Official Notice)
Independent non-executive chairman David Nurek has advised the board that he plans to retire after serving as a director and chairman since the group?s listing on the JSE in 2004.



The board has nominated independent non-executive director Hilton Saven to succeed Mr Nurek.



Through a managed succession process, Mr Nurek has agreed to stand for re-election as a director at the forthcoming annual general meeting (?AGM?) in August 2017. He will serve as a director until a suitable candidate has been appointed to the board to succeed Mr Saven as chairman of the audit committee, at which time he will formally retire from the board and be succeeded by Mr Saven.



The board has commenced the selection process to identify a potential candidate to serve as a non-executive director and chairman of the audit committee.



Appointment of non-executive directors

Daphne Motsepe and Adheera Bodasing have been appointed as non-executive directors with effect from 1 June 2017.



Retirement of non-executive director

Independent non-executive director Ben van der Ross will be retiring from the board at the forthcoming AGM. Mr van der Ross (70) has been a director since 2004 and also serves as chairman of the group?s remuneration committee.



Executive director and chief financial officer

Les Davies (61) has advised the board that he will be stepping down as chief financial officer (?CFO?) and as an executive director of the group with effect from 31 March 2018. He will continue to serve as the chief executive officer of the group?s short-term insurer, Monarch Insurance. Jacques Bestbier (44) has been appointed as CFO designate with effect from 1 June 2017. Shareholders are referred to the detailed announcement ?Appointment of Chief Financial Officer designate? released on SENS today, 24 May 2017.
24-May-2017
(Official Notice)
Lewis Group announced the appointment of Jacques Bestbier as chief financial officer (?CFO?) designate with effect from 1 June 2017.



He will succeed Les Davies, who has served as the group?s CFO and financial director since 1989. Les (61) will be stepping down as CFO and as an executive director of Lewis Group with effect from 31 March 2018. He will continue to serve as the chief executive officer of the group?s short-term insurer, Monarch Insurance.
24-May-2017
(C)
Revenue for the year lowered to R5.6 billion (R5.8 billion) while operating profit before investment income decreased to R564.8 million (R815.0 million). Net profit attributable to ordinary shareholders tumbled to R358.0 million (R961.5 million). Furthermore, headline earnings per share dipped to 400.1 cents per share (621.37 cents per share).



Dividend

Notice is hereby given that a final gross cash dividend of 100 cents per share in respect of the year ended 31 March 2017 has been declared payable to holders of ordinary shares.



Company prospects

Trading conditions are not expected to improve in the short term and in this environment of muted consumer spending, management will remain focused on tight expense control, improving collections productivity, driving sales growth and sourcing innovative merchandise ranges which appeal to its target market.



The group's solid balance sheet supported by its strong cash position and current low levels of gearing at 2.9% (compared to 25.5% a year ago) provide a good platform for the group's medium-to longer-term growth strategies.
17-May-2017
(Official Notice)
The performance for the 12 months ended 31 March 2017 (?the year?) reflects the challenging economic and consumer environment in which the business is currently trading.



These conditions, together with the effect of the affordability assessment regulations, continue to impact the group?s lower to middle income target market and consequently the group?s sales.



Merchandise sales for the year were 2.2% lower than last year with like-for-like merchandise sales down 9.3%. Revenue declined by 3.3% mainly as a result of a 4.3% decline in other revenue.



The group?s gross profit margin continued to expand in line with management?s expectations and improved to 41.6% compared to 38.0% in the previous year.



Debtor costs for the year increased by 6.0% reflecting an improvement from the 17% growth reported at the 2016 year end.



The group remains strongly cash generative with low levels of gearing at 2.9% compared to 25.5% a year ago.



Shareholders are reminded that the earnings for the prior year included a once off capital gain of R495.6 million as a result of realising a large portion of the investment portfolio within Monarch Insurance Company Ltd, the group?s insurer, which impacted earnings per share reported last year.



Shareholders are advised that headline earnings per share for the year is expected to be between 435 cents per share and 373 cents per share, between 30% and 40% lower than the 621.7 cents per share for last year. Earnings per share is expected to be between 455 cents per share and 368 cents per share, between 58% and 66% lower than the 1 082.6 cents per share for last year. The group?s results for the year are planned to be released on SENS on 24 May 2017.
04-Apr-2017
(Official Notice)
On 1 November 2016, David Woollam (?Woollam?) applied for leave to appeal the judgment and order of the Western Cape High Court (?the Court?), which set aside Woollam?s first demand addressed to Lewis Group (?Lewis?) on 20 May 2016, for Lewis to commence with proceedings to declare four of its directors delinquent, in accordance with the provisions of section 165 of the Companies Act 71 of 2008.



Woollam?s application for leave to appeal was heard on 8 December 2016 and that application was refused by the Court on 9 December 2016. Woollam petitioned the Supreme Court of Appeal (?the SCA?) for leave to appeal the judgment, and Lewis was informed by the SCA on 4 April 2017 that Woollam has been granted leave to appeal. In light of the aforegoing, shareholders are advised that in the event of Woollam proceeding with an appeal, such appeal will be opposed by Lewis.
01-Mar-2017
(Official Notice)
25-Jan-2017
(Official Notice)
Trading conditions for the nine month period ended 31 December 2016 remained extremely challenging with low economic growth, declining consumer confidence, constrained employment and the continuing impact of the drought in the agricultural sector affecting sales mainly in rural areas. Credit sales continued to be significantly impacted by the affordability assessment regulations which remain a major hurdle in the group?s lower to middle income target market. Revenue for the third quarter to December 2016 declined by 7.5% with merchandise sales 5.6% lower than the corresponding period. Revenue for the nine month period reduced by 4.0% and merchandise sales by 2.0%. The collection performance of the debtors book remains stable. Debtor costs for the nine months to December 2016 increased by 6.0% on the corresponding period, reflecting an improvement on the 7.3% increase reported at the half year to September 2016.
09-Nov-2016
(C)
Revenue for the interim period lowered by 1.9% to R2.7 billion (R2.8 billion). Operating profit before investment income took a 33% knock to R275.0 million (R410.2 million). Net profit attributable to ordinary shareholders fell by 41.5% to R174.3 million (R298.0 million). Furthermore, headline earnings per share decreased by 39.6% to 194.8 cents per share (322.6 cents per share).



Interim dividend

The board has decided to declare an interim dividend of 100 cents per share which represents a 55% payout of the net profit attributable to ordinary shareholders.



Prospects

Trading conditions are not expected to improve over the remainder of the financial year as consumers face increasing pressures on disposable income.



The directors are positive about the group's medium- to longer-term prospects and the business remains cash generative with low levels of gearing at 18.8% (H1 2016: 27.6%), reflecting the strength of the balance sheet.



The newly acquired stores in the rest of Africa are showing encouraging sales performance and are expected to make a solid contribution to the group's revenue and profitability in the medium term.
21-Oct-2016
(Official Notice)
Shareholders are advised that, at the Annual General Meeting (?AGM?) of Lewis held today, 21 October 2016, all ordinary and special resolutions passed by the requisite majority of shareholders present and represented by proxy at the meeting.
21-Oct-2016
(Official Notice)
The performance for the six months ended September 2016 (?the period?) reflects the challenging economic and consumer environment in which the business is trading and how these conditions have impacted the group?s lower to middle income target customers.



This has been compounded by the ongoing impact of the National Credit Regulator?s affordability assessment guidelines which are restricting access to credit in South Africa and severely limiting the group?s credit sales.



Merchandise sales for the period were in line with last year, with like for like merchandise sales down 9.2%. Revenue declined by 2% mainly as a result of a 4% decline in other Revenue over the corresponding prior period.



The group?s gross profit margin has continued to expand in line with management?s expectations and improved to 40.5% compared to 36.4% in the previous year.



Debtor costs for the period increased by 7.3% reflecting a further slowing from the 17% growth reported at the 2016 year end.



Shareholders are advised that as a result of the adverse trading conditions, headline earnings per share for the period is expected to be between 210 cents per share and 177 cents per share, between 35% and 45% lower than the 322.6 cents per share for the corresponding prior period . Earnings per share is expected to be between 218 cents per share and 185 cents per share, between 35% and 45% lower than the 335.5 cents per share for the corresponding prior period.



The group?s interim results for the period are scheduled to be released on SENS on or about 9 November 2016.
11-Oct-2016
(Official Notice)
30-Sep-2016
(Official Notice)
In response to a report in the Business Day on 30 September 2016 headed ?Woollam cleared of Lewis insider trading?, Lewis wishes to record that in 2015 it, inter alia, lodged a complaint with the Financial Services Board (FSB) against Woollam for the making and/or publishing of false, misleading or deceptive statements, promises or forecasts, of and regarding it.



In this regard, the FSB?s Directorate of Market Abuse has confirmed in a letter dated 28 September 2016, addressed to Lewis?s legal representatives that the investigation into the allegations of false, misleading, deceptive statements, promises and/or forecasts made against Lewis, is still on-going.
30-Sep-2016
(Official Notice)
Lewis? SENS announcement of 15 September 2016 relating to the matter of The National Credit Regulator/Lewis Stores (Pty) Ltd (?Lewis?) and Monarch Insurance Company Ltd. refers.



After taking legal advice on the matter, the board of directors of Lewis has resolved to appeal the judgment of the National Consumer Tribunal delivered on 14 September 2016.



Lewis?s notice of appeal to the Gauteng Division (Pretoria) of the High Court of South Africa will be delivered imminently.
15-Sep-2016
(Official Notice)
05-Sep-2016
(Official Notice)
Lewis advised that Global Credit Ratings (?GCR?) affirmed the group?s credit ratings and outlook on 5 September 2016.

The ratings are as follows:

* National long-term rating: ?A(za)?

* National short-term rating: ?A1(za)?

* Outlook: Stable
05-Aug-2016
(Official Notice)
Shareholders are advised that it has come to Lewis? attention that the proxy form attached to the notice of annual general meeting dated 27 June 2016 inadvertently reverses the order in which ordinary resolutions 2.1 and 2.2 are reflected in the notice of general meeting.



Notwithstanding the minor discrepancy explained above, shareholders are hereby advised that Lewis intends to count the votes tendered via proxy in respect of ordinary resolutions 2.1 and 2.2, as votes tendered in respect of the election of the person named below that resolution on the proxy form.



To the extent any shareholder has already completed and submitted a proxy form on a contrary understanding to that set out above and wishes to alter its proxy instructions, a revised proxy form correcting the order in which ordinary resolutions 2.1 and 2.2 appear is available on Lewis? website and has been mailed to all shareholders.

05-Aug-2016
(Official Notice)
Shareholders are advised that it has come to Lewis? attention that the proxy form attached to the notice of annual general meeting dated 27 June 2016 inadvertently reverses the order in which ordinary resolutions 2.1 and 2.2 are reflected in the notice of general meeting.



Notwithstanding the minor discrepancy explained above, shareholders are hereby advised that Lewis intends to count the votes tendered via proxy in respect of ordinary resolutions 2.1 and 2.2, as votes tendered in respect of the election of the person named below that resolution on the proxy form.



To the extent any shareholder has already completed and submitted a proxy form on a contrary understanding to that set out above and wishes to alter its proxy instructions, a revised proxy form correcting the order in which ordinary resolutions 2.1 and 2.2 appear is available on Lewis? website and has been mailed to all shareholders.

30-Jun-2016
(Official Notice)
With regard to the audited results for the year ended 31 March 2016, shareholders are advised that the integrated annual report which incorporates a summary of the group annual financial statements (hereinafter referred to as summary financial statements) has been distributed to them. The audited financial statements and the summary financial statements contain additional reclassifications to the balance sheet and cash flow statement subsequent to the reviewed results that were published on SENS on 25 May 2016. These additional reclassifications have been detailed in the SENS announcement regarding the audited annual financial statements released on 27 June 2016.



The integrated annual report, as well as the complete audited annual financial statements is available on the Group?s website, www.lewisgroup.co.za. The annual financial statements and the summary financial statements were audited by PricewaterhouseCoopers Inc. Their unqualified audit reports are available for inspection at our registered office.



Notice of the Annual General Meeting

The twelfth annual general meeting of shareholders will be held at:

Lewis Group Head Office

Universal House

53A Victoria Road

Woodstock

7925

Cape Town



on Friday 21 October 2016 at 08h30 to transact business as stated in the notice of the annual general meeting which forms part of the integrated annual report.
27-Jun-2016
(Official Notice)
Shareholders are referred to the Lewis reviewed results announcement for the year ended 31 March 2016 released on the Stock Exchange News Service on 25 May 2016 (?reviewed results?) and are advised that the group has issued its audited financial statements for the year ended 31 March 2016 today (?audited 2016 financial statements?) which are available for inspection at our offices or upon request. These audited financial statements will be made available on the Lewis website www.lewisgroup.co.za on Thursday 30 June 2016.



The balance sheet and cash flow statement have changed subsequent to the reviewed results as a result of the additional reclassifications noted below. Neither of these reclassifications have any effect on the net asset value per share.



The reclassifications are as follows:

- Re-insurance and insurance liabilities included re-insurance assets. These re-insurance assets have been reclassified and reflected separately under current assets.

- The movements in the long-term and short-term portion of borrowings in the cash flow statement have been reclassified as proceeds from borrowings and repayments of borrowings.
09-Jun-2016
(Official Notice)
Following the company?s SENS announcement dated 1 June 2016, in which it advised shareholders that it intended to launch proceedings to set aside a demand that had been received from one of its beneficial shareholders, David Woollam, in terms of Section 165 of the Companies Act, 71 of 2008, to initiate proceedings to declare certain of the company?s directors delinquent, shareholders are advised that such proceedings were initiated yesterday in the Western Cape Division of the High Court, in Cape Town.



The basis of the company?s application is that Mr Woollam?s demand is frivolous, vexatious and without merit. The company is seeking costs from Mr Woollam on an attorney?client scale. The company regards Mr Woollam?s demand in terms of Section 165 as the latest in a lengthy list of actions by him calculated to damage the company?s reputation, operations and business. As the company has fully articulated in its founding papers, Mr Woollam held a long standing short position on Lewis? shares at the time of his campaign against Lewis.



It is Lewis?s contention that Woollam?s ongoing campaign against it is a concerted attempt by him to drive down the price of Lewis?s shares in order that he may opportunistically benefit financially by taking short positions in relation to Lewis?s shares. The demand, Lewis submits, should be seen as part of this overall strategy on the part of Woollam.



Lewis has filed a complaint in respect of Woollam?s short position with the Financial Services Board (?FSB?). In terms of a press release of 30 March 2016, the FSB has confirmed that it is engaged in an ongoing investigation in respect of suspected insider trading and prohibited practices in relation to shares in Lewis.



The Lewis shareholders will continue to be kept abreast of further developments.



01-Jun-2016
(Official Notice)
Shareholders are advised that Mr David Woollam has addressed a letter to the Lewis board of directors demanding that Lewis commences with proceedings to declare Johan Enslin (Chief executive officer), Les Davies (Chief financial officer), David Nurek (Independent non-executive chairman) and Hilton Saven (Independent non-executive director), delinquent directors in accordance with the provisions of section 165, as read with section 162, of the Companies Act, 71 of 2008 (as amended) (?Companies Act?).



Lewis has appointed an independent sub-committee of the board to consider the allegations by Mr Woollam levelled against the aforementioned directors, and having taken advice from Lewis?s legal advisors, it is Lewis?s intention to apply to court for the setting aside of Mr Woollam?s demand in terms of section 165(3) of the Companies Act on the grounds that it is frivolous, vexatious and without merit.
25-May-2016
(C)
Revenue for the year increased by 2.2% to R5.8 billion (2015: R5.7 billion). Operating profit before investment income was 25.7% lower at R815.0 million (2015: R1.1 billion). Net profit attributable to ordinary shareholders increased by 19.3% to R961.5 million (2015: R806.2 million). Furthermore, headline earnings per share declined by 26.5% to 621.7 cents per share (2015: 845.3 cents per share).



Dividends

Notice is hereby given that a final gross cash dividend of 302 cents per share in respect of the year ended 31 March 2016 has been declared payable to holders of ordinary shares.



Prospects

While trading conditions are expected to remain challenging in the short term, the business remains strongly cash generative with low levels of gearing at 25.5% reflecting a strong balance sheet. The board remains positive about the group's medium to longer term prospects and has maintained the dividend for the full year at 517 cents.



Following the acquisition of the Beares chain and the 56 stores outside South Africa, together with the closure of Ellerines and the significant reduction in the footprint of a major competitor, the group is well positioned to grow market share across all three trading brands. The newly acquired stores outside South Africa are expected to make a solid contribution to the group's revenue and profitability in the medium term.

17-May-2016
(Official Notice)
Shareholders are advised that the group is currently finalising its results for the year ended 31 March 2016 (?the period?), which will be released on SENS on Wednesday 25 May 2016.



Trading conditions became increasingly challenging in the second half of the period owing to the further slowdown in the economy, higher levels of unemployment in the group?s target market and the introduction of the National Credit Regulator?s affordability assessment guidelines which negatively impacted credit sales. Trading in the fourth quarter was further impacted by aggressive discounting by a major competitor ahead of store closures.



After increasing by 8.8% in the first half, merchandise sales declined by 2% for the second half and were 2.9% higher for the period. Revenue for the period increased by 2.2%. The group?s gross profit margin has strengthened over the period while operating costs, excluding the Beares acquisition, continue to be tightly managed. Debtor cost growth at 17.1% was similar to the level reported at the interim results.



The group anticipates headline earnings per share for the period to be between 24% and 29% lower than the 845 cents reported for the prior year. Headline earning per share for the period is expected to be between 642 cents and 600 cents.



As previously advised to shareholders, the group?s decision to move from term to monthly insurance policies in all three trading brands will significantly reduce the level of capital required by the group?s wholly-owned subsidiary, Monarch Insurance. As part of this process a large portion of the equity and bond portfolio has been liquidated to further de-risk the business in light of a potential sovereign rating downgrade. This has resulted in investment income for the period increasing by R452.6 million over the prior year. This has benefited earnings per share which are expected to increase by between 17% and 22% over the 908 cents reported for the prior year, but does not impact headline earnings. Earnings per share is expected to be between 1062 cents and 1107 cents.
16-May-2016
(Official Notice)
Shareholders are advised that the group is currently finalising its results for the year ended 31 March 2016 (?the period?), which will be released on SENS on Wednesday 25 May 2016. Trading conditions became increasingly challenging in the second half of the period owing to the further slowdown in the economy, higher levels of unemployment in the group?s target market and the introduction of the National Credit Regulator?s affordability assessment guidelines which negatively impacted credit sales. Trading in the fourth quarter was further impacted by aggressive discounting by a major competitor ahead of store closures.



After increasing by 8.8% in the first half, merchandise sales declined by 2% for the second half and were 2.9% higher for the period. Revenue for the period increased by 2.2%. The group?s gross profit margin has strengthened over the period while operating costs, excluding the Beares acquisition, continue to be tightly managed. Debtor cost growth at 17.1% was similar to the level reported at the interim results. The group anticipates headline earnings per share for the period to be between 24% and 29% lower than the 845 cents reported for the prior year. Headline earning per share for the period is expected to be between 642 cents and 600 cents.



As previously advised to shareholders, the group?s decision to move from term to monthly insurance policies in all three trading brands will significantly reduce the level of capital required by the group?s wholly-owned subsidiary, Monarch Insurance. As part of this process a large portion of the equity and bond portfolio has been liquidated to further de- risk the business in light of a potential sovereign rating downgrade. This has resulted in investment income for the period increasing by R452.6 million over the prior year. This has benefited earnings per share which are expected to increase by between 17% and 22% over the 908 cents reported for the prior year, but does not impact headline earnings. Earnings per share is expected to be between 1062 cents and 1107 cents.
18-Apr-2016
(Official Notice)
Shareholders are advised that the National Credit Regulator (?NCR?) has referred Lewis? operating subsidiary, Lewis Stores (Pty) Ltd. (?Lewis Stores?), to the National Consumer Tribunal (?Tribunal?) for alleged breach of the National Credit Act (?NCA?).



The referral relates to:

- the costs charged by Lewis Stores under certain maintenance agreements concluded with its customers since 2007 (?maintenance costs?), in terms of which they have allegedly been provided with extended warranty cover, in addition to the cover available to them in terms of supplier and manufacturer warranties for the same period; and

- certain club membership fees (?club fees?) charged by Lewis Stores to its customers since 2007.



The NCR alleges that the maintenance costs and club fees were charged to customers in contravention of the NCA and requests the Tribunal to order Lewis Stores to repay the maintenance costs and club fees to customers. The NCR further requests that the Tribunal restrains Lewis Stores from charging maintenance costs and club fees to customers in an unlawful manner in the future and seeks certain ancillary relief, including the imposition of an administrative fine of 10% of the annual turnover of Lewis Stores.



Having considered the allegations contained in the referral along with Lewis' external legal counsel, Lewis believes that the allegations are without merit. Accordingly, Lewis has instructed its legal representatives to oppose the referral on its behalf. A further announcement will be made as appropriate.
23-Mar-2016
(Official Notice)
Shareholders are referred to the announcement released on the Stock Exchange News Service of the JSE Limited on 9 November 2015 regarding the acquisition by Lewis subsidiaries incorporated in each of Namibia, Lesotho, Botswana and Swaziland of businesses trading under the ?Ellerines? and ?Beares? brands from the relevant in-country subsidiaries of Ellerine Services Proprietary Limited (a wholly owned subsidiary of Ellerine Furnishers Proprietary Limited (currently in Business Rescue)). The group?s board of directors is pleased to advise that all suspensive conditions relating to the acquisitions have been fulfilled and that the transaction is now unconditional.



The transaction includes the acquisition of 57 Ellerines and Beares stores in Namibia (21 stores), Botswana (20), Lesotho (10) and Swaziland (6). The stores in Botswana and Lesotho have already been incorporated into the group?s operations, with the Swaziland stores due to be integrated in early April and the Namibian stores in early May. The stores will trade under either the Lewis or Beares brands. The transaction will expand the group?s presence outside South Africa to 120 stores, equivalent to 15% of the total store base.



23-Mar-2016
(Official Notice)
Shareholders are referred to the announcement released on the Stock Exchange News Service of the JSE Ltd. on 9 November 2015 regarding the acquisition by Lewis subsidiaries incorporated in each of Namibia, Lesotho, Botswana and Swaziland of businesses trading under the ?Ellerines? and ?Beares? brands from the relevant in-country subsidiaries of Ellerine Services (Pty) Ltd. (a wholly owned subsidiary of Ellerine Furnishers (Pty) Ltd. (currently in Business Rescue)).



The group?s board of directors is pleased to advise that all suspensive conditions relating to the acquisitions have been fulfilled and that the transaction is now unconditional. The transaction includes the acquisition of 57 Ellerines and Beares stores in Namibia (21 stores), Botswana (20), Lesotho (10) and Swaziland (6).



The stores in Botswana and Lesotho have already been incorporated into the group?s operations, with the Swaziland stores due to be integrated in early April and the Namibian stores in early May. The stores will trade under either the Lewis or Beares brands. The transaction will expand the group?s presence outside South Africa to 120 stores, equivalent to 15% of the total store base.
25-Jan-2016
(Official Notice)
Trading conditions for the nine month period ended 31 December 2015 remained extremely challenging, with weak consumer demand, constrained employment, the drought in the agricultural sector and difficulties in the mining sector affecting sales.



Trading has been significantly impacted by the implementation of the National Credit Regulator?s affordability assessment regulations requiring customers to present their three latest pay advices or bank statements as part of the credit application process. This has proved challenging for consumers in the group?s lower to middle income target market and impacted the performance for the third quarter ended December 2015, with revenue increasing by 1.1% and merchandise sales being in line with the prior year.



Revenue for the nine month period grew by 5.4% and merchandise sales by 4.7%. The debt collection performance remains stable. Debtor costs for the nine months to end December 2015 increased by 16.5% on the corresponding period, in line with the increase reported at the half year to September 2015.



Following the announcement of the acquisition of 62 Beares and Ellerines stores outside of South Africa in November 2015, the 10 stores in Lesotho were seamlessly incorporated into the group during December. Applications have been filed with the competition authorities in Namibia, Botswana and Swaziland, and the group awaits competition approval.
02-Dec-2015
(Official Notice)
02-Dec-2015
(Official Notice)
09-Nov-2015
(Official Notice)
Shareholders are advised that Lewis? subsidiaries incorporated in each of Namibia, Lesotho, Botswana and Swaziland (?the Jurisdictions?) have entered into sale of business agreements with the relevant in-country subsidiaries of Ellerine Services Pty Ltd. (a wholly owned subsidiary of Ellerine Furnishers Pty Ltd. (in Business Rescue) (?Ellerines?)), to acquire their businesses trading under the ?Ellerines? and ?Beares? brands in each of the Jurisdictions (?transactions?).



The transactions include the acquisition of 25 stores in Botswana, 10 stores in Lesotho, 21 stores in Namibia and 6 stores in Swaziland. The assets to be acquired in terms of the transactions and related transactions include all fixed assets, stock, intellectual property and the debtors book in respect of each business as well as the Ellerines and Beares club.



The purchase consideration will be determined as at the effective date of each of the relevant transactions with reference to the value of the fixed assets, stock and the debtors book of each of the businesses to be acquired and the number of store lease agreements that are successfully assigned to the subsidiaries of Lewis. The aggregate gross purchase consideration is anticipated to be approximately R250 million. The implementation of each of the transactions is subject to suspensive conditions traditional for transactions of this nature.
09-Nov-2015
(C)
Revenue increased by 8.3% to R2.8 billion (2014: R2.6 billion), whilst operating profit declined by 13.6% to R410 million (2014: R475 million). Net profit attributable to ordinary shareholders shrunk by 12.7% to R298 million (2014: R341 million). Headline earnings per share decreased to 322.6cps (2014: 372.8cps).



Interim dividend

The board maintained the interim dividend at 215 cents per share.



Prospects

The current adverse trading conditions are not expected to improve in the short term. Consumer confidence remains muted and unemployment continues to impact the group?s target market, with customers in the mining and agricultural sectors being under particular pressure. Management remains confident in the growth prospects of Beares and will continue to refine the merchandise offering for the higher targeted LSM market. The group is investing for growth and will continue to expand its footprint over the next six months.





27-Oct-2015
(Official Notice)
27-Oct-2015
(Official Notice)
24-Aug-2015
(Official Notice)
Lewis advised that Global Credit Ratings (?GCR?) affirmed the group?s credit ratings and outlook on 24 August 2015.



The ratings are as follows:

* National long-term rating: ?A(za)?

* National short-term rating: ?A1(za)?

* Outlook: Stable
14-Aug-2015
(Official Notice)
Shareholders are advised that, at the Annual General Meeting (?AGM?) of Lewis held today, 14 August 2015, all ordinary and special resolutions passed by the requisite majority of shareholders present and represented by proxy at the meeting.
14-Aug-2015
(Official Notice)
Shareholders are advised that at the annual general meeting of the Lewis Group held in Cape Town today, the Chairman, Mr David Nurek, comprehensively addressed recent allegations and statements that have been made in the media in relation to the group .



The statement made by Mr Nurek is available on the group?s website www.lewisgroup.co.za under Shareholder Communications in the Investor Information section.
14-Aug-2015
(Official Notice)
Shareholders are advised that at the annual general meeting of the Lewis Group held in Cape Town today, 14 August 2015, the Chairman, Mr David Nurek, comprehensively addressed recent allegations and statements that have been made in the media in relation to the group.



The statement made by Mr Nurek is available on the group?s website www.lewisgroup.co.za under Shareholder Communications in the Investor Information section.
14-Aug-2015
(Official Notice)
At the group?s annual general meeting held on 14 August 2015, the Chief Executive Officer, Johan Enslin, presented the following trading update:



Trading for the four months ended July 2015 (?the period?) reflected an encouraging trend on the four months to July 2014. Merchandise sales increased by 15.5% for the period, supported by the Beares brand which was included in the results for the first time. Sales in Lewis and Best Home and Electric increased by 6.3% for the period. The credit/cash sales mix was similar to the 69% level reported for the 2015 financial year.



After providing for the refund to customers of approximately R69 million in insurance premiums and interest (as communicated on SENS on 7 August 2015), revenue for the period increased by 7.7% on the corresponding period.



Debtor costs for the period increased by 12.5% reflecting a further slowing in debtor cost growth from the 22% growth reported at year end. Management expects the retail trading and credit environment to remain challenging as the consumer economy remains weak and unemployment remains high.



The above information has not been reviewed or reported on by the group?s independent auditor.
14-Aug-2015
(Official Notice)
At the group?s annual general meeting held 14 August 2015, the Chief Executive Officer, Johan Enslin, presented the following trading update:



Trading for the four months ended July 2015 (?the period?) reflected an encouraging trend on the four months to July 2014. Merchandise sales increased by 15.5% for the period, supported by the Beares brand which was included in the results for the first time. Sales in Lewis and Best Home and Electric increased by 6.3% for the period. The credit/cash sales mix was similar to the 69% level reported for the 2015 financial year.



After providing for the refund to customers of approximately R69 million in insurance premiums and interest (as communicated on SENS on 7 August 2015), revenue for the period increased by 7.7% on the corresponding period. Debtor costs for the period increased by 12.5% reflecting a further slowing in debtor cost growth from the 22% growth reported at year end.



Management expects the retail trading and credit environment to remain challenging as the consumer economy remains weak and unemployment remains high.



The above information has not been reviewed or reported on by the group?s independent auditor.
07-Aug-2015
(Official Notice)
31-Jul-2015
(Official Notice)
Shareholders are referred to the Company?s announcement published on SENS on 9 July 2015 in terms of which shareholders were advised that the National Credit Regulator ("NCR") has referred two of Lewis? operating subsidiaries, Lewis Stores (Pty) Ltd. and Monarch Insurance Company Ltd., to the National Consumer Tribunal ("Tribunal") following an alleged breach of the National Credit Act arising from the sale of loss of employment insurance cover and disability cover to pensioners and self-employed consumers. Lewis Stores and Monarch Insurance will file their response to the NCR?s referral to the Tribunal by close of business on Thursday, 6 August 2015. Lewis intends to make an announcement to Lewis shareholders on Friday, 7 August 2015 providing greater detail regarding Lewis? responses to the alleged contraventions, and Lewis shareholders are advised to exercise caution in trading in shares prior to such date.
09-Jul-2015
(Official Notice)
Shareholders are advised that the National Credit Regulator (?NCR?) has referred two of Lewis' operating subsidiaries, Lewis Stores and Monarch Insurance Company Ltd., to the National Consumer Tribunal (?Tribunal?) for alleged breach of the National Credit Act.



This referral relates to three cases of the sale of retrenchment cover to pensioners and self-employed consumers, or the sale of disability cover to pensioners under credit life insurance contracts.



The NCR has requested the Tribunal to order refunds to the customers impacted by the sale of these insurance products, to undertake an audit and to impose an administrative fine of R10 million on the company.



The directors and management of Lewis are committed to cooperating fully with the Tribunal to ensure satisfactory resolution of the case.



The group undertakes to keep investors updated on developments relating to the Tribunal?s investigations.
30-Jun-2015
(Official Notice)
Distribution of integrated annual report

With regard to the audited results for the year ended 31 March 2015, shareholders are advised that the integrated annual report which incorporates a summary of the group annual financial statements (hereinafter referred to as abridged financial statements) has been distributed to them. The audited financial statements and the abridged financial statements contain no modification to the abridged results that were published on SENS on 27 May 2015. The integrated annual report, as well as the complete audited annual financial statements is also available on the Group?s website, www.lewisgroup.co.za. The annual financial statements and the abridged financial statements were audited by PricewaterhouseCoopers Inc. The unqualified audit reports are available for inspection at our registered office.



Notice of the Annual General Meeting

The tenth annual general meeting of shareholders will be held at:

Lewis Group Head Office

Universal House

53A Victoria Road

Woodstock

7925

Cape Town



on Friday 14 August 2015 at 08h30 to transact business as stated in the notice of the annual general meeting which forms part of the integrated annual report.



24-Jun-2015
(Official Notice)
Shareholders are advised that, at the General Meeting of Lewis held on 24 June 2015, all the resolutions, relating to the approval and the adoption of the Lewis Executive Retention Share Scheme and the Lewis Long Term and Short Term Executive Performance Share Scheme were passed by the requisite majority of shareholders present and represented by proxy at the meeting.
27-May-2015
(C)
Revenue increased by 8% to R5.7 billion (R5.3 billion). Operating profit was 1.2% lower at R1.1 billion (R1.2 billion). Net attributable profit declined by 0.3% to R839.4 million (R842.2 million). Headline earnings per share fell by 4.2% to 882.7cps (921.1cps).



Dividend

Notice is hereby given that a final gross cash dividend of 302 cents per share in respect of the year ended 31 March 2015 has been declared payable to holders of ordinary shares.



Prospects

The retail trading and credit environment is unlikely to show any marked improvement in the short to medium term as the consumer economy remains weak and unemployment remains high.



In this environment Lewis will focus on driving quality credit sales, containing costs and further improving collection rates.



Lewis continues to invest for future growth and plans to open 30 stores in the year ahead, with 20 across the Lewis brand and 10 new outlets for Beares. Capital expenditure of R100 million has been budgeted for 2016.



Beares is a scalable brand which offers sustained organic growth prospects. Management will continue to refine the merchandise offering for the higher targeted LSM market to maximise the potential growth of the brand.



Through its decentralised customer focused business model, Lewis is well positioned for further market share gains within the shifting competitive landscape.
25-May-2015
(Official Notice)
Shareholders are advised that a circular was posted to shareholders on 25 May 2015, incorporating a notice convening a general meeting of Lewis shareholders. The purpose of the general meeting is to consider the following:

* approval of the Lewis Executive Retention Share Scheme;

* approval of the Lewis Long Term and Short Term Executive Performance Share Scheme.



The general meeting of shareholders will be held on Wednesday 24 June 2015 at 08H30 at: Lewis Group Head Office, Universal House, 53A Victoria Road, Woodstock, 7925, Cape Town.
27-Jan-2015
(Official Notice)
Trading conditions for the nine month period ended 31 December 2014 remained challenging with continued weak consumer demand and constrained employment still in evidence.



Revenue for the nine month period grew by 4% and merchandise sales by 3%. This is an improvement on the revenue growth of 1.6% and merchandise sales decline of 3.5% reported for the six months ended September 2014.



The improved trading for the quarter ended December 2014 was driven by higher levels of promotional activity and the contribution from the newly acquired Beares stores during December. The group?s revenue for the quarter increased by 8% and merchandise sales by 12%.



Owing to the increased promotional activity to stimulate sales in response to the ongoing stock clearances in Ellerines (under business rescue), the group?s gross profit is slightly below the level of last year.



Debtor costs have shown further improvement. Debtor costs for the nine months to end December 2014 increased by 25% on the corresponding period, below the increase of 27% reported at the half year in September.



The financial information in this trading update has not been reviewed or reported on by the group?s independent auditor.
13-Nov-2014
(Official Notice)
Shareholders are advised that the competition authorities yesterday granted approval for the Lewis Group, through its wholly-owned subsidiary, Lewis Stores (Pty) Ltd., to acquire the Beares brand and 63 stores from Ellerine Furnishers (Pty) Ltd. The group will continue to keep investors updated on progress with the transaction.
10-Nov-2014
(C)
Revenue for the interim period increased by 1.6% to R2.6 billion (2013: R2.5 billion). Operating profit decreased by 9.9% to R471.5 million (2013: R523.4 million), while net profit attributable to ordinary shareholders was 10.5% lower at R340.2 million (2013: R380 million). Furthermore, headline earnings per share shrunk to 371.7cps (2013: 419.7cps).



Dividend

Notice is hereby given that an interim gross cash dividend of 215 cents per share in respect of the 6 months ended 30 September 2014 has been declared payable to holders of ordinary shares



Prospects

New merchandise ranges have been launched in stores and will be supported by strong marketing campaigns ahead of the festive season.



Retail trading conditions are expected to remain challenging over the remainder of the financial year, however disruptive competitor activity is expected to decline as stores are closed. Management will continue to drive quality credit sales while containing operating and debtor costs.



Despite the adverse trading conditions the group continues to invest for growth and is on track to open the targeted 20 Lewis outlets in the 2015 financial year.



The integration of the Beares business into the Group's store, merchandise, supply chain and credit operations will be one of management's priorities in the months ahead.
31-Oct-2014
(Official Notice)
Shareholders are advised that Lewis, through its wholly-owned subsidiary, Lewis Stores (Pty) Ltd., has pursuant to a competitive bid process, submitted an offer to acquire the "Beares" brand and some selected stores, from Ellerine Furnishers (Pty) Ltd. (in Business Rescue) ("Ellerines").



The Business Rescue practitioners acting on behalf of Ellerines have accepted the offer, and agreed to negotiate with Lewis on an exclusive basis with a view to concluding a binding sale agreement. The binding sale agreement will be subject to various suspensive conditions, including the approval of the South African competition authorities.



The purchase consideration has been determined with reference to the value of intellectual property, fixed assets and stock.



An update on the transaction will be provided with the announcement of Lewis's interim results on 10 November 2014. Management undertakes to keep investors updated until the transaction has been finalised.
29-Sep-2014
(Official Notice)
Shareholders are advised that at the General Meeting of the Lewis Group shareholders held on Monday 29 September 2014, all ordinary resolutions contained in the notice of the meeting dated 25 August 2014 were passed with the requisite majorities.



Although a majority of shareholders supported special resolutions 1 and 2 relating to the amendments to the Share Incentive Schemes, the company has received feedback from shareholders that we reconsider certain aspects of these schemes. As the company is sensitive to the concerns of shareholders, the company has decided to withdraw Special resolutions 1 and 2.



The company will engage with its shareholders in relation to their concerns and will in due course resubmit the schemes for shareholder approval.
25-Sep-2014
(Official Notice)
25-Aug-2014
(Official Notice)
Shareholders are advised that a circular was posted to shareholders on 25 August 2014 incorporating a notice convening a general meeting of Lewis shareholders. The purpose of the general meeting is to consider the following:

* Amendment of the Lewis Co-Investment Scheme

* Amendment of the Lewis Executive Performance Scheme

* Ratify and approve the appointment of David Nurek as a member of the Audit Committee.



The general meeting of shareholders will be held at: Lewis Group Head Office, Universal House, 53A Victoria Road, Woodstock, 7925, Cape Town, on Monday, 29 September 2014 at 08h30 to transact business as stated in the notice of the general meeting which forms part of the circular.
15-Aug-2014
(Official Notice)
Shareholders are advised that David Nurek, and independent non- executive director of the company, has been appointed as a member of the audit committee with effect from 15 August 2014.



The members of the Audit Committee are as follows:

*Hilton Saven: Chairman

*David Nurek :Member

*Ben van der Ross: Member
15-Aug-2014
(Official Notice)
Shareholders are advised that at the Annual General Meeting of the Lewis Group shareholders held on Friday 15 August 2014, all special resolutions, ordinary resolutions and the non-binding vote contained in the notice of the meeting dated 20 June 2014 were passed with the requisite majorities, except for ordinary resolution number 3.1 relating to the election of Zarina Bassa as a member of the audit committee, which was withdrawn at the meeting.



15-Aug-2014
(Official Notice)
Trading for the four months ended July 2014 ("the period") was extremely challenging. Protracted strike action, labour unrest, high levels of unemployment and high levels of indebtedness caused consumers to adopt a cautious approach to incurring debt and to be selective in paying accounts. As a result debtor costs for the period increased by 30% and merchandise sales declined by 0.8% on the corresponding period last year.



Financial services income continues to support revenue growth owing to the higher proportion of longer term contracts settling in the base during this financial year for the last time. Revenue for the period grew by 2.3% on the corresponding period, with the credit/cash sales mix at a similar level to last year.



Management expects the trading environment to remain challenging for the remainder of the financial year. Despite these conditions the group continues to invest for the future and is on track to open 20 new stores in the current financial year.
16-Jul-2014
(Official Notice)
Shareholders are referred to the no change statement and notice of annual general meeting announcement released on SENS on Monday, 30 June 2014 and are advised that the notice of annual general meeting made available on the company's website on Monday, 30 June 2014 contained two additional special resolutions pertaining to proposed amendments to the Lewis Executive Performance Share Scheme and the Lewis Co-Investment Scheme which were not contained in the final and distributed notice of annual general meeting posted to shareholders on Monday, 30 June 2014.



The company is in the process of reviewing the aforementioned share schemes and anticipates proposing the approval of substantial amendments to such share schemes at a special general meeting of the company's shareholders, to be convened for a date after the AGM. The company accordingly hereby advises shareholders that the aforementioned special resolutions will therefore not be proposed for adoption at the AGM.



The company will be distributing to shareholders an explanatory letter and confirms the correct version of the notice of annual general meeting is available for download on the company's website, www.lewisgroup.co.za
01-Jul-2014
(Official Notice)
Shareholders are advised that Sizakele Marutlulle has resigned from the board of directors in her capacity as independent non-executive director with effect from 30 June 2014.
30-Jun-2014
(Official Notice)
With regard to the audited results for the year ended 31 March 2014, shareholders are advised that the integrated annual report which incorporates a summary of the group annual financial statements (hereinafter referred to as abridged financial statements) has been distributed to them. The audited financial statements and the abridged financial statements contain no modification to the abridged results that were published on SENS on 28 May 2014. The integrated annual report, as well as the complete audited annual financial statements is also available on the Group?s website, www.lewisgroup.co.za. The annual financial statements and the abridged financial statements were audited by PricewaterhouseCoopers Inc. The unqualified audit reports are available for inspection at our registered office.



Notice of the Annual General Meeting

The tenth annual general meeting of shareholders will be held at:

Lewis Group Head Office

Universal House

53A Victoria Road

Woodstock

7925

Cape Town



on Friday 15 August 2014 at 08h30 to transact business as stated in the notice of the annual general meeting which forms part of the integrated annual report.

25-Jun-2014
(Official Notice)
Shareholders are advised that Zarina Bassa has informed the company of her intention to resign from the board of directors ("Board") in her capacity as independent non-executive director with effect from the close of the Annual General Meeting on 15 August 2014.



28-May-2014
(C)
Revenue increased by 1.8% to R5.3 billion (R5.2 billion). Operating profit was 7.9% lower at R1.2 billion (R1.3 billion). Net attributable profit declined by 7.6% to R842.2 million (R911.7 million). Headline earnings per share fell by 8.6% to 921.1cps (1 007.8cps).



Dividend

A final gross ordinary dividend of 302cps has been declared.



Outlook

The current difficult trading conditions are expected to continue into the new financial year. New merchandise ranges will be launched in June and innovative acquisition strategies used to attract new customers to the group's value-for-money product offerings. The focus in this challenging environment will remain on driving credit sales growth, containing costs and improving collections through higher levels of productivity by building on the pro-active approach to collections at store level.
30-Jan-2014
(Official Notice)
Trading conditions remained challenging with labour instability across many sectors during the nine month period ended 31 December 2013 ("the period") which impacted on both the group's sales and collections.



Revenue for the period grew by 2.1% and merchandise sales for the period declined by 2.3%. Debtor costs for the period increased by 30% on the corresponding period. This increase is in line with the increase in debtor costs reported at half year.



The group's revenue for the quarter ended 31 December 2013 declined by 1.5% with merchandise sales reducing by 6.3%.
11-Nov-2013
(C)
Revenue for the interim period increased by 4.5% to R2.5 billion (2012: R2.4 billion). Operating profit rose slightly by 0.6% to R523.4 million (2012: R520.3 million), while net profit attributable to ordinary shareholders was 1.7% higher at R380 million (2012: R373.7 million). Furthermore, headline earnings per share grew to 419.7cps (2012: 419cps).



Dividend

An interim gross cash dividend of 215cps in respect of the six months ended 30 September 2013 has been declared payable to holders of ordinary shares.



Prospects

New merchandise ranges have been launched ahead of the all-important festive season trading period. Strong marketing campaigns have been developed, directed at creditworthy consumers, through value for money merchandise offerings. The current difficult trading conditions are expected to continue for the remainder of the financial year. The focus in this environment will remain on driving quality credit sales growth while containing operating and debtor costs.
29-Oct-2013
(Official Notice)
Lewis has launched a R2 billion domestic medium-term note ("DMTN") programme. The group successfully raised R500 million in the first issuance of the programme. The programme will be listed on the JSE with effect from 31 October 2013. The funds were raised across a three-year bond and six month commercial paper. The issue was 2.55 times subscribed, with bids totalling R1.277 billion.



The group has entered into the DMTN programme to diversify its sources of funding. The proceeds of the issue will be used primarily to fund operational requirements and for refinancing maturing debt. Lewis Group was assigned an 'A(za)' long-term credit rating by Global Credit Ratings with a stable outlook. Absa is the sole lead arranger and ratings adviser on the transaction.
07-Oct-2013
(Media Comment)
According to Business Report, Lewis was granted a good credit rating by Global Credit Ratings for its persistent performance. For the first time, Lewis received an A rating for surpassing expectations in the ailing local furniture industry. The "A' rating is a high score for a long-term issuer rating with high credit rating and good protection factors.
16-Aug-2013
(Official Notice)
Shareholders were advised that at the Annual General Meeting of the Lewis shareholders held on Friday 16 August 2013, all special resolutions, ordinary resolutions and the non-binding vote contained in the notice of the meeting dated 13 June 2013 were passed with the requisite majorities.
16-Aug-2013
(Official Notice)
At the group's annual general meeting held today, 16 August 2013, the Chief Executive Officer, Johan Enslin, presented the following trading update:



Trading for the quarter ended 30 June 2013 ("the period") remained challenging with continued uncertainty in the labour market and rising unemployment fuelling the cautious outlook of consumers in the group's target market.



Merchandise sales growth for the period was in line with last year while revenue was 4.7% higher owing to the increased financial services income resulting from higher levels of credit sales and longer dated contracts.



The credit collection environment has become increasingly tough and the productivity of credit staff at stores remains a key focus. Debtor costs for the period totalled R156.6 million which amounts to 2.7% of net debtors. This percentage is in line with the corresponding period last year.



Management expects current trading conditions to continue for the remainder of the financial year.
28-Jun-2013
(Official Notice)
With regard to the audited results for the year ended 31 March 2013, shareholders were advised that the integrated annual report which incorporates a summary of the group annual financial statements (hereinafter referred to as abridged financial statements) has been distributed to them. The audited financial statements and the abridged financial statements contain no modification to the abridged results that were published on SENS on 22 May 2013. The integrated annual report, as well as the complete audited annual financial statements is also available on the group's website, www.lewisgroup.co.za. The annual financial statements and the abridged financial statements were audited by PricewaterhouseCoopers Inc. The unqualified audit reports are available for inspection at the group's registered office.



Notice of the Annual General Meeting

The ninth annual general meeting of shareholders will be held at:



Lewis Group Head Office

Universal House

53A Victoria Road

Woodstock

7925

Cape Town



on Friday 16 August 2013 at 08h30 to transact business as stated in the notice of the annual general meeting which forms part of the integrated annual report.
22-May-2013
(C)
Revenue was up 6.8% to R5.2 billion (R4.9 billion). Operating profit increased by 9.5% to R1.2 billion (R1.1 billion). Net profit attributable to ordinary shareholders rose by 13.3% to R907.4 million (R800.6 million). Headline earnings per share grew 13.6% to 1 002.9cps (882.5cps).



Dividend

A final gross ordinary dividend of 302cps has been declared.



Outlook

The disposable income of our target market remains under pressure and consumer confidence is falling. In this challenging trading environment, management will continue to focus on sourcing exclusive value-for-money merchandise and supporting this merchandise offer with strong marketing activity to attract credit customers. Containing expense growth and debtor costs will remain a top priority.



The group remains confident in its business model and will continue to invest for future growth by expanding the retail footprint by 20 to 25 new stores in the year ahead.
28-Jan-2013
(Official Notice)
Trading conditions for the quarter ended 31 December 2012 proved challenging following the labour instability in the mining and transport sectors which impacted on both sales and collections. The group's revenue for the quarter ended 31 December 2012 increased by 5.6% with merchandise sales increasing by 2.7%. Revenue for the nine months ended 31 December 2012 grew by 6.2% and merchandise sales for the nine month period increased by 4.8%. Debtor costs for the nine months to December 2012 increased by 5.4% (R23 million) on the corresponding period.
12-Nov-2012
(C)
Revenue for the interim period jumped 6.6% to R2.4 billion (R2.3 billion) whilst operating profit increased by 4.4% to R520.3 million (R498.5 million). Profit attributable to equity holders grew by 10.8% to R373.7 million (R337.4 million). In addition, headline earnings per share rose by 10.6% to 419.0 cents per share (378.7 cents per share).



Dividend

An interim gross cash dividend of 212 cents per share (172 cents per share) in respect of the 6 months ended 30 September 2012 has been declared.



Prospects

New merchandise ranges have been introduced and stores are well stocked in preparation for the Christmas trading period. Strong marketing and promotional campaigns have been developed to attract credit customers and drive sales growth in the current competitive environment.



Trading conditions are expected to remain challenging for the rest of the financial year and management will continue to focus on cost control and debtor costs.
17-Aug-2012
(Official Notice)
Shareholders are advised that at the annual general meeting of the Lewis shareholders held on Friday 17 August 2012, all special resolutions, ordinary resolutions and the non-binding vote contained in the notice of the meeting dated 21 May 2012 were passed with the requisite majorities.
17-Aug-2012
(Official Notice)
Shareholders were informed that trading in April was challenging mainly as a result of the Easter holiday period. However, sales improved steadily from May onwards, with sales for June and July showing an increase of 6% for the two months. Sales for the four months ended July 2012 increased by 5% over the corresponding period.



Collections during April were also affected by the holidays but have improved since May. This has resulted in debtor costs for the quarter to June 2012 of R134.8 million which is consistent with the figure for the corresponding period last year.
29-Jun-2012
(Official Notice)
With regard to the audited results for the year ended 31 March 2012, shareholders are advised that the integrated annual report which incorporates a summary of the group annual financial statements (hereinafter referred to as abridged financial statements) has been distributed to them. The unqualified audited financial statements and the abridged financial statements contain no modification to the abridged results that were published in SENS on 23 May 2012. The integrated annual report, as well as the complete audited annual financial statements is also available on the group's website, www.lewisgroup.co.za.



Notice of the annual general meeting

The eighth annual general meeting of shareholders will be held at: Lewis Group Head Office, Universal House, 53A Victoria Road, Woodstock, 7925, Cape Town, on Friday 17 August 2012 at 10h00 to transact business as stated in the notice of the annual general meeting which forms part of the integrated annual report.
23-May-2012
(C)
Revenue for the year ended 31 March 2012 increased by 6.1% to R4.9 billion (2011: R4.6 billion), operating profit rose by 8.2% to R1.139 million (2011: R1.052 billion), while net profit attributable to ordinary shareholders grew by 12.5% to R800.6 million (2011: R711.9 million). Furthermore, headline earnings per share jumped by 13% to 882.5cps (2011: 781.1cps).



Dividend declaration

Notice was given that a final gross cash dividend of 270cps in respect of the year ended 31 March 2012 was declared.



Prospects

There has been rapid growth in unsecured credit in the Lewis target market. Consumers are also under increasing pressure from rising fuel, electricity and food costs and job creation remains key to stimulating growth in this sector of the market. Management expects trading conditions to remain challenging in the year ahead. The group has strategies in place to meet these challenges and continues to invest for growth by expanding the retail footprint through adding 20 to 25 smaller format stores in the year ahead.
14-Nov-2011
(C)
Revenue was up by 6.7% to R2.3 billion (R2.1 billion) and operating profit climbed by 6.3% to R498.5 million (R468.9 million). Net profit attributable to ordinary shareholders rose by 14.2% to R337.4 million (R295.5 million), while headline earnings on a per share basis improved by 13.9% to 378.7cps (332.5cps).



Dividend

An interim cash dividend of 172cps in respect of the six months ended 30 September 2011 has been declared.



Prospects

Sales and collections for the first month of the new reporting period are showing signs of gradual improvement. While customers' disposable income is coming under renewed pressure from higher transport, electricity and other utility costs, the response to the launch of new and exclusive merchandise ranges during the latter part of October has been encouraging. The stores are well stocked with competitively priced merchandise for the Christmas season, supported by strong marketing and promotional campaigns.
12-Aug-2011
(Official Notice)
Shareholders are advised that at the Annual General Meeting of the Lewis Group shareholders held on Friday 12 August 2011, all special resolutions, ordinary resolutions and the non-binding vote contained in the notice of the meeting dated 8 June 2011 were passed with the requisite majorities.

12-Aug-2011
(Official Notice)
Trading in the first two months of the 2012 financial year was challenging, mainly as a result of the Easter holiday period falling into April this year and the local government elections which took place in May. These factors impacted both sales and collections. However, sales recovered in June and July and the group posted a 10% increase for the two months. Sales for the four months ended July 2011 increased by 6% over the corresponding period. Collections were slow in April and May, but improved in June and July. Lewis continue to raise a provision for the impact of a supreme court of appeal judgement delivered on 28 March 2011 relating to credit insurance premiums charged under the National Credit Act. This provision was raised for the first time, at the year end March 2011 and is not in the comparative for the quarter ended June 2010. The provision for the quarter ended June 2011, was increased by an amount of R11 million. As a result of the aforegoing, debtor costs for the quarter ended June 2011 increased by 28% (R30 million) compared to an increase of 21% (R18 million) for the first quarter of the previous financial year. Satisfactory paid customers comprised 72.5% of debtors at the end of the first quarter compared to 72.1% in the same period last year.
29-Jun-2011
(Official Notice)
With regard to the audited results for the year ended 31 March 2011, shareholders were advised that the annual report has been distributed to them. The audited financial statements contain no modification to the abridged results that were published on SENS on 23 May 2011. The seventh annual general meeting of shareholders will be held at: Lewis Group Head Office, Universal House, 53A Victoria Road, Woodstock, Cape Town, on Friday 12 August 2011 at 10h00 to transact business as stated in the notice of the annual general meeting which forms part of the annual report.
29-Jun-2011
(Official Notice)
Shareholders are referred to the announcement released on 28 June 2011 which dealt with directors dealings in securities. Lewis confirmed that the shares sold by directors on 24 June 2011 were sold on the market.
23-May-2011
(C)
Revenue rose to R4.6 billion (R4.1 billion). Operating profit increased to 1.1 billion (R907.2 million) and net profit attributable to ordinary shareholders increased to R711.9 million (R591.4 million). In addition, headline earnings per share rose to 781.1cps (642.6cps).



Dividend

A final ordinary dividend of 207cps has been declared.



Prospects

There are encouraging signs of a sustainable improvement in spending in the Lewis target market. Consumer confidence is improving and demand for credit is growing, supported by higher real wage increases granted to the public sector and trade union groups, stabilising unemployment, continuing infrastructure spend and service delivery. However, management remains cautious on the pace of the economic recovery in an environment where job creation is key to sustained growth and consumers are experiencing increasing fuel, electricity and utility costs. The store expansion programme will continue and 40 new outlets are planned for the year ahead, with the focus on small stores with lower cost structures and higher sales densities.
05-May-2011
(Official Notice)
The Lewis Group advises that, for the year ended 31 March 2011, its earnings per share and headline earnings per share are expected to be higher than those reported in the previous year as set out below:

*Earnings per share 18% to 22%

*Headline earnings per share 20% to 24%

The above information has neither been reviewed nor reported on by the company's external auditors. The group's audited results for the year ended 31 March 2011 will be released on SENS on or about Monday, 23 May 2011.
24-Jan-2011
(Media Comment)
According to Business Day, furniture retailer Lewis said on Friday its merchandise sales for the third quarter ended December had increased 13%, as the company continued to benefit from its policy of working to "re-serve" customers. Merchandise sales for the nine months to December last year were also strong, reflecting a cumulative increase of 12%. "Lewis has done well to keep its customers by using its re-serve policy. This has given it an edge over its competitors such as JD Group and Ellerines," Shanay Narsi, an equity analyst at BoE Private Clients, said. Part of the re-serve policy sees Lewis granting credit at a centralised level but collecting credit payments at store level, which created strong personal relationships, Mr Narsi said.
21 Jan 2011 07:34:09
(Official Notice)
Sales have continued to improve since the group's interim reporting period, with merchandise sales for the quarter ended December 2010 increasing by 13%. Merchandise sales for the nine months to December 2010 reflect a cumulative increase of 12%. Solid debtor collections continued for the quarter ended December 2010, resulting in an increase of 14.7% in collection levels, with debtor costs for the nine months reflecting a satisfactory improvement. Lewis expects to announce its results for the year ended 31 March 2011 on or about Monday, 23 May 2011.
08 Nov 2010 08:11:18
(C)
Lewis Group experienced steadily improving sales and credit collections over the past six months. Merchandise sales increased by 11.2% and revenue by 9.8%, while debtor costs as a percentage of net debtors declined from 5.0% to 4.8%. This improved trading and operating performance resulted in a 14.5% growth in headline earnings per share.



Dividend

An interim dividend of 156 cents per ordinary share in respect of the six months ended 30 September 2010 has been declared.



Prospects

The outlook for the Group's consumer continues to improve steadily. Higher real wage increases granted across most sectors of the economy are positive while retrenchments and job losses in the Group's customer base appear to have stabilised. The momentum in collections has been encouraging and the Group's store expansion plan is on track. The festive season trading period will again be strongly supported by merchandise and promotional activity.
13 Aug 2010 11:37:39
(Official Notice)
At the annual general meeting of the Lewis Group shareholders held on Friday 13 August 2010, all the ordinary resolutions contained in the notice of the meeting dated 19 May 2010 were passed with the requisite majorities.
29 Jun 2010 15:31:37
(Official Notice)
With regard to the audited results for the year ended 31 March 2010, shareholders are advised that the annual report has been distributed to them. The audited financial statements contain no modification to the abridged results that were published on SENS on 19 May 2010. The annual financial statements were audited by PricewaterhouseCoopers Inc.



The sixth annual general meeting of shareholders will be held at:

Lewis Group Head Office

Universal House

53A Victoria Road

Woodstock

7925

Cape Town

on Friday 13 August 2010 at 10h00 to transact business as stated in the notice of the annual general meeting which forms part of the annual report.

19 May 2010 08:15:00
(C)
Revenue rose by 8.0% to R4.1 billion (R3.8 billion). Operating profit increased by 9.0% to 907.2 million (R832.3 million) and net profit attributable to ordinary shareholders increased by 5.4% to R591.4million (R561.2 million). In addition, headline earnings per share rose by 1.9% to 642.6cps (630.5cps).



Dividend

A final ordinary dividend of 179cps has been declared.



Prospects

While trading conditions are showing early signs of improvement, the environment is expected to remain challenging in the year ahead as the country emerges from recession. Job creation remains key to stimulating economic growth among the Lewis target market. Debtor costs appear to have peaked and should moderate in the year ahead as the credit collections environment continues to improve. A more aggressive store expansion programme will see the group open 40 to 45 new stores in the year ahead.
21 Jan 2010 08:04:11
(Official Notice)
Revenue for the quarter ended December 2009 increased by 7.9%. The revenue growth for the nine months ended 31 December 2009 was also 7.9%. Merchandise sales for the quarter increased by 7.3%. Merchandise sales growth for the nine months increased by 7.0% compared to the comparative period in the prior year. The month of December 2009 reflected an encouraging result with merchandise sales up 11.7%. The overall condition of the debtors` book, as measured by the doubtful debt provision, remained stable. The doubtful debt provision for the nine month period December 2009 was 17.4%. This is similar to the level of the doubtful debt provision for the six month period September 2009 (17.9%). The provision as at December 2008 was 15.4%. Lewis is expected to announce its results for the year ended 31 March 2010 on Wednesday, 19 May 2010.
08 Jan 2010 07:57:33
(Media Comment)
The Financial Mail noted that Lewis' revenue growth has continued and that the company had a better Christmas than some of its competitors. In addition, Lewis has gained market share while its rivals restructure, and its internal systems are good. The share may also do well in 2010.
09 Nov 2009 08:43:09
(C)
Revenue increased by 7.9%. Operating margin was 21.8% and operating profit was up 4.3%. Headline earnings per share declined by 3.9%. Dividend per share was maintained.



Dividends per share

An interim dividend of 144 cps was declared for the period under review.



Prospects

While lower interest rates, stabilising food prices and higher real wage increases are positive for consumers, short time and retrenchments remain a risk for sustained improvement. The festive season trading period will be strongly supported by merchandise and promotional campaigns to maximise sales opportunities.
07 Oct 2009 11:37:47
(Official Notice)
Lewis group announced the appointment of Ms Zarina Bassa and Ms Sizakele Marutlulle as non executive directors to the board, with effect 1 October 2009.Ms Bassa is a chartered accountant with a strong financial services background and will serve as a member of the group's audit and risk committee. Ms Marutlulle has a marketing background with extensive expertise in the group's target market.
01 Oct 2009 16:21:22
(Official Notice)
Mr. Alan James Smart retired as CEO after 40 years of service with the company, with effect from 30 September 2009. Mr. Alan Smart will remain as a non-executive director to the board.



Mr. Johan Enslin has been appointed as the CEO and Executive Director to the board, with effect 1 October 2009.
14 Aug 2009 11:05:15
(Official Notice)
At the annual general meeting of Lewis shareholders held on Friday 14 August 2009, all the ordinary resolutions contained in the notice of the meeting were passed with the requisite majorities. The following statement was made by the chief executive officer, Alan Smart at the annual general meeting:



Revenue for the four months ended July 2009 increased by 6.8% compared to the same period last year. Trading conditions remain tight but the steadily improving sales trend reported with the group's 2009 financial results in May has continued.



Collections remain a challenge, with slow paying accounts requiring an additional impairment charge. Retrenchment remains a risk to the retail sector. However, an analysis of the unemployment levels of the group's debtor base of approximately 700 000 customers indicates that only 2.8% of customers are currently unemployed.

23 Jul 2009 10:08:53
(Media Comment)
Business Day reported that Lewis has received a "buy" rating from Bank of America. The recommendation cited the group's proven business model and low cost base. Lewis CEO Alan Smart commented that it is a "very comprehensive report and coming from an international brokerage, it is positive for Lewis."
30 Jun 2009 11:03:20
(Official Notice)
shareholders are advised that the annual report has been distributed to them. The audited financial statements contain no modification to the abridged results that were published on SENS on 18 May 2009. The annual financial statements were audited by PricewaterhouseCoopers Inc. The fifth annual general meeting of shareholders will be held at:

Lewis Group,Head Office,Universal House,53A Victoria Road,Woodstock, 7925, Cape Town

On Friday 14 August 2009 at 10h00 to transact business as stated in the notice of the annual general meeting which forms part of the annual report.
18 May 2009 08:18:04
(C)
Revenue rose by 5.9% to R3.8 billion (R3.6 billion). Operating profit declined by 9.7% to 840.3cps (930.4cps) and net profit attributable to ordinary shareholders decreased by 11.7% to R567 million (R642.3 million). In addition, headline earnings per share fell by 7.6% to 637.1cps (689.8cps).



Dividend

A final ordinary dividend of 179cps has been declared.



Prospects

Continued government and private sector infrastructure spend bodes well for ongoing job creation and retention in several sectors of the Lewis target market. However, rising retrenchments and unemployment remains one of the major risks facing the South African economy in the year ahead. The group's national store base and diverse customer profile should limit the impact of unemployment affecting a particular sector of the economy or geographic region. While the group will continue to focus on organic growth from existing stores, a cautious expansion programme will see 20 to 25 stores opened across the three trading brands. Lewis is also well positioned to benefit from increased customer traffic as a result of store and brand consolidation among competitors.



Trading conditions are expected to remain difficult in the year ahead. However, the improving trend in revenue growth and the slowing bad debt provision in recent months provide encouraging signs. Sales for the first six weeks of the new financial year continued to improve on the positive trend of recent months.
21 Jan 2009 09:05:28
(Official Notice)
Revenue for the quarter ended December 2008 increased by 5%. The cumulative revenue growth for the nine months ended 31 December 2008 was also 5%. Merchandise sales for the quarter increased by 2%. Cumulative merchandise sales growth for the nine months was substantially in line with the comparative period in the prior year. The month of December 2008 reflected an encouraging result with merchandise sales up 5% and revenue up by 7%. The overall condition of the debtors' book, as measured by the doubtful debt provision, remained stable. The doubtful debt provision for the nine month period December 2008 was 15.4%. This is similar to the level of doubtful debt premium for the nine month period September 2008 (15.5%). Lewis will announce its FY09 results on Monday, 18 May 2009.
10 Nov 2008 09:14:43
(C)
Revenue increased by 5% to R1.8 billion (R1.7 billion). Operating profit declined by 2.7% to R411 million (R422.6 million) and net profit attributable to ordinary shareholders was down by 4.2% to R273.3 million (R285.2 million). Headline earnings per share was lower by 0.9% to 305.7cps (308.5cps).



Dividend

An ordinary interim dividend of 144cps has been declared.



Prospects

Whilst trading is expected to remain difficult, the upcoming peak trading season will be supported by strong promotions and inventory to maximise sales opportunities.
10 Oct 2008 09:33:55
(Media Comment)
Lewis CEO Alan Smart has rejected claims of customers being ripped off as "isolated' and based on "very old paperwork". This was the key message in a letter Smart wrote to shareholders, according to the Financial Mail. Smart also said that Lewis is keeping tabs on its salespeople and that all Lewis' credit applications were processed safely at head office.
22 Aug 2008 13:35:35
(Official Notice)
The board is of the opinion that the article on Lewis published in the Financial Mail of 22 August 2008 gives a misleading impression of the facts. Management again wish to clearly state the group's position on insurance income recognition.

*The group has consistently applied its accounting policies relating to insurance and reinsurance revenue.

*Monarch reinsures 40% of its insurance book with an independent third party reinsurer with a genuine and substansive transfer of risk to the reinsurer.

*Monarch retains a premium reserve of 40% of ceded premiums which has the effect of deferring reinsurance revenue.

*Reinsurance is an internationally accepted means of risk transfer and capital optimization.

*The group accounts for insurance revenue in terms of its contractual relationship with the parties. Over a 24 month contract, the application of this policy results in 55% of the gross insurance revenue being recognized in the first 12 months and 45% in the second 12 months.

*As a consequence of the above the group earned Insurance Revenue of R564.2 million in the year to March 2008 (55%) (refer pg. 71 of the annual report) and has deferred insurance revenue as balance sheet reserves of R466.3 million (45%) (refer pg. 19 of the annual report).

*In the event that the group cease all insurance business with immediate effect, the R466.3 million would be released as insurance revenue in future periods, a clear indication of the group's insurance and reinsurance revenue recognition policies recognizing income over the period of the contract.

*'Lewis' auditors, PricewaterhouseCoopers Inc have issued an unqualified audit report in respect of the year ended March 2008.
15 Aug 2008 11:42:41
(Official Notice)
At the Annual General Meeting of the Lewis shareholders held on Friday 15 August 2008, the special resolution and all the ordinary resolutions contained in the notice of the meeting dated 19 May 2008 were passed with the requisite majorities. The special resolution will be lodged with the Registrar of Companies in due course.



The following statement was made by the Chief Executive Officer, Alan Smart at the Annual General Meeting:

*Revenue for the four months ended July 2008 increased by 7.4% compared to a 10% increase in revenue for the same period last year. Trading conditions remain difficult with no clear pattern of trade emerging. Store promotions and the application of re-serve strategies to settled, current and new customers has been a prime focus in maximising sales opportunities.

*Collections for the three months ended June 2008 were 98% of budget.

*The share buy back programme has continued during the period with a further 1.5% of issued shares being repurchased.
01 Jul 2008 16:00:14
(Official Notice)
With regard to the audited results for the year ended 31 March 2008, shareholders are advised that the annual report has been distributed to them. The audited financial statements contain no modification to the abridged results that were published on SENS on 19 May 2008. The fourth annual general meeting of shareholders will be held at: Lewis Group Head Office, Universal House, 53A Victoria Road, Woodstock, 7925, Cape Town, on Friday, 15 August 2008 at 10h00 to transact business as stated in the notice of the annual general meeting which forms part of the annual report.
19 May 2008 09:30:47
(C)
Revenue increased by 8.2% to R3 596.4 million, with merchandise sales increasing 4.5% to R1 889.7 million. Earnings per share and headline earnings per share rose by 10.3% and 6.9% respectively. The return on equity is 24.4% (24.8%) and the return on assets managed is 18.9% (19%).



Dividends

A final dividend of 179c in respect of the year ended 31 March 2008 has been declared.



Prospects

Trading conditions are expected to remain tough while external factors such as oil prices and food inflation affects the group's target market. On the positive side, however, there are no signs of increased unemployment. In addition, infrastructural spend and job creation in certain sectors remains encouraging.
18 Mar 2008 16:07:07
(Official Notice)
Marlene McConnell has been appointed as company secretary effective from 18 March 2008.
28 Jul 2006 17:28:06
(Official Notice)
Shareholders are advised that Lewis has now purchased an additional 3% of its own shares on the open market through Lewis Stores (Pty) Ltd. This has resulted in a cumulative repurchase of 6.36% of its own shares. The shares repurchased will not be cancelled from the issued share capital of Lewis, but will be retained by its subsidiary, Lewis Stores.
30 Jun 2006 08:36:59
(Official Notice)
With regard to the audited results for the year ended 31 March 2006, the annual report has been distributed to shareholders. The audited financial statements contain no modifications to the abridged results that were published on SENS on 22 May 2006. The second annual general meeting of shareholders will be held on Friday 4 August 2006 at 10.00am.
22 May 2006 14:41:43
(C)
The increased number of middle income earners continues to drive the consumer economy and revenue growth. Revenue increased by 14.5% to R2.88 billion (R2.51 billion) mainly driven by merchandise sales growth of 16.0% to R1.57 billion (12.6% on a like-for-like basis). The Lewis chain produced solid merchandise sales growth of 12.1% to R1.318 billion (11.3% on a like-for-like basis). Best Electric experienced a 31.4% sales increase from R125.1 million to R164.3 million (10.8% on a like-for-like basis) benefiting from new store openings and revised merchandise ranging, despite the effects of deflation. Lifestyle Living posted strong growth of 68.1% at R85.4 million (58.4% on a like-for-like basis), albeit off a low base. The group's finance costs declined by R29.9 million to R12.8 million (R42.7 million) mainly as a result of the cessation of interest payments to the former holding company. Net profit to ordinary shareholders rose to R448.7 million (R395.2 million) with headline earnings growing to 464.5cps (390.1cps).



Dividend

A dividend of 137cps was declared for the period payable on 24 July 06. The dividend represents a 2.25 times dividend cover (previously 3 times covered).



Prospects

The strong second half of the year and the current sales impetus indicate that the trading environment will remain buoyant. The quality of the debtors book continues to improve and the group's outlook remains positive.
02 May 2006 17:16:39
(Official Notice)
Shareholders' attention is drawn to the SENS announcement dated 14 September 2005 in which it was reported that a charge of R58.4 million for share based payments under IFRS 2 arose from shares made available for no consideration by the former holding company GUS Holdings BV. The charge results in no economic cost or dilutionary effect to existing shareholders, has no impact on operating performance, net asset value, cash position or gearing of Lewis.



Lewis advises that its headline earnings and earnings per share for the year ended 31 March 2006, prepared on an IFRS basis, including the charge of R58.4 million for share based payments referred to above, is expected to be between 15% to 22% higher than those reported for the previous year. Normalised headline earnings and earnings per share for the year ended 31 March 2006, excluding the charge of R58.4 million for share based payments referred to above, is expected to be between 26% to 33% higher than those reported for the previous year. The group's audited results for the year ended 31 March 2006 will be released on SENS on or about Monday, 22 May 2006.
23 Mar 2006 08:48:00
(Media Comment)
Commenting on the group's repurchase of shares on the week of 13 March 06, Evan Walker, analyst of Andisa Securities, told Business Report that the group could buy back as much as 10% of its own shares.
20 Mar 2006 17:37:39
(Official Notice)
Lewis has purchased 3 364 900 (3.36%) of its own shares, at an average price of R44.86 per share, on the open market through Lewis Stores (Pty) Ltd. The number of shares which may still be repurchased by Lewis in terms of the General Authority is 6 635 100. The share purchases were funded from available funds and would not be cancelled from the issued share capital of Lewis, but would be retained by its subsidiary.
12 Jan 2006 09:23:23
(Official Notice)
Lewis' strategic merchandise sourcing initiatives combined with the favourable retail trading environment contributed to a 17% increase in merchandise sales for the quarter ended 5 January 2006 compared to the corresponding 2005 quarter. Like-for-like merchandise sales rose 14% with furniture sales, which contributed approximately 50% of total sales, experiencing no price inflation. Electrical goods showed a 10% price deflation.
14 Nov 2005 12:47:53
(C)
Trading revenue increased by 12.3% to R1 332 million (R1187 million). This was driven by merchandise sales growth of 14.5% to R724 million (11.1% on a like-for-like basis). Overall price deflation for the six month was 7.1% with an increase of 14.5% in value and volume increasing by 21.6%. Furniture sales, which account for 48% of total sales, increased by 7.8% in rand terms and 8.5% in unit sales. Sales of electronic and electrical appliances increased by 21.6% in value and 31.8% in volumes. The merchandise margin increased to 35.5% from 33.8% driven by competitive supply chain initiatives. Bad debt charges at R46 million were R2 million lower than last year. The increase in the impairment provision of R4 million compares to a release of R11 million in the corresponding period. This is a consequence of the growth in the debtors book. The impairment provision as a percentage of gross instalment debtors decreased from 15.3% to 14.2%. Finance costs declined by R25 million to 5.3 million as a result of low gearing, low interest rates and the cessation of interest payments to the former holding company. Headline earnings on an IFRS basis decreased by 10.8% from R178 million to R159 million as a result of the share-based payment charge in terms of IFRS 2. Normalised headline earnings increased by 22% from R178 million to R217 million.



Dividend

A dividend of 88cps was declared for the period.



Prospects

Lewis remains confident, based on the current momentum in the business, that furniture, electrical and appliance sales will continue to grow in real terms in the coming year. Productivity will be enhanced further through economies of scale from the inclusion of new stores and a continued focus on operational efficiencies. Consequently, share owners can expect meaningful earnings growth.
02 Nov 2005 17:39:22
(Official Notice)
Shareholders' attention is drawn to the recent SENS announcement dated 14 September 2005 in which it was reported that a charge of R58.4 million for share based payments under IFRS 2 arose from shares made available for no consideration by the former holding company GUS Holdings BV. The charge results in no economic cost or dilutionary effect to existing shareholders, has no impact on operating performance, net asset value, cash position or gearing of Lewis.



Lewis advises that its headline earnings and earnings per share for the 6 month period ended 30 September 2005, prepared on an IFRS basis, including the charge of R58.4 million for share based payments referred to above, is expected to be between 8% and 11% lower than those reported for the previous corresponding period. Normalised headline earnings and earnings per share for the 6 month period ended 30 September 2005, excluding the charge of R58.4 million for share based payments referred to above, is expected to be between 20% and 26% higher than those reported for the previous corresponding period.









14 Sep 2005 16:01:06
(Official Notice)
01 Sep 2005 12:21:31
(Official Notice)
Professor Fatima Abrahams has been appointed as a non-executive director and its Remuneration and Nomination committee with effect 1 September 2005.
05 Aug 2005 14:25:38
(Official Notice)
At the annual general meeting of Lewis shareholders held on Friday 5 August, the special resolution and all the ordinary resolutions contained in the notice of the meeting dated 16 May 2005 were passed by the requisite majorities, except for ordinary resolution number 7 relating to the general authority to issue shares for cash, which was withdrawn prior to the meeting.
27-Jun-2017
(X)
Lewis Group is a leading credit retailer of household furniture, electrical appliances and home electronics and has been listed on the JSE Ltd. since 2004 where it is classified under the General Retailers sector.



Through the Lewis, Best Home and Electric, and the newly acquired Beares brand, the group has a branch network of 761 stores. This includes stores across all major metropolitan areas as well as a strong presence in rural South Africa, with 116 stores in the neighbouring southern African countries of Botswana, Lesotho, Namibia and Swaziland.



Lewis is the country's largest furniture chain and one of the most recognisable brands in furniture retailing. Monarch Insurance, the group's financial services subsidiary, provides short-term insurance cover to customers purchasing merchandise on credit.



Focused primarily on the growing middle to lower income market in the living standards measurement ("LSM") 4 to 7 categories, the group has a credit customer base of close to 620 000. Customers are predominantly from black communities.



The group acquired the businesses trading under the Ellerines and Beares brands in Botswana, Lesotho, Namibia and Swaziland between December 2015 and May 2016. The businesses consisted of 56 stores, the Ellerines and Beares brands in those countries. trade receivables, inventory and fixed assets. The stores will trade either under the Lewis or Beares brands.


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