LEWIS GROUP LIMITED - Annual general meeting trading update

Annual general meeting trading update

Lewis Group Limited
Reg No. 2004/009817/06
JSE Share Code : LEW
ISIN: ZAE000058236
LEW01 ISIN: ZAG000110222

(“the group”)

Annual general meeting trading update

At the group’s annual general meeting held today the Chief Executive
Officer, Johan Enslin, presented the following trading update:

“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.”

This information has   not   been   reviewed   or   reported   on by   the   group’s
independent auditor.


Cape Town
15 August 2014
Sponsor:
UBS South Africa (Pty) Ltd

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