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LEWIS GROUP LIMITED - SALES UPDATE FOR THE QUARTER ENDED DECEMBER 2004

Release Date: 12/01/2005 10:00
Code(s): LEW
Wrap Text

LEWIS GROUP LIMITED - SALES UPDATE FOR THE QUARTER ENDED DECEMBER 2004 Lewis Group Limited Incorporated in the Republic of South Africa) Formerly Rowmoor Investments 505 (Proprietary) Limited) Registration number: 2004/009817/06) JSE share code: LEW ISIN: ZAE000058236 ("Lewis") SALES UPDATE FOR THE QUARTER ENDED DECEMBER 2004 The quarter ended 31st December 2004 was a highly successful one for Lewis, building on the strength of the same quarter last year. Merchandise sales increased by 11% compared to the corresponding quarter last year, with like - for - like growth of 9%. Sales grew consistently in all geographic regions. Furniture sales, which accounted for about half of Lewis" sales in the quarter, increased by 16% in Rand and by 18% in units. Electricals, where sales growth in Rand was 9%, also saw unit volume growth of 18% with price deflation stimulating consumer demand. As expected, total revenue growth in the quarter continued to be slower than merchandise sales growth because of the impact of lower finance charge rates and an increasing proportion of cash sales. Credit sales accounted for 78% of total sales compared to 85% for the quarter last year. Cash collections from debtors during the period were strong, with the debtors" book reflecting a continuing improvement compared to last year. Alan Smart, CEO of Lewis, said: "Strong volume growth in both furniture and electrical sectors provides evidence that Lewis continues to attract new business as well as benefiting from significant customer loyalty". The above information has not been reviewed or reported on by Lewis" auditors. Cape Town 12 January 2005 Sponsor: UBS Date: 12/01/2005 10:00:07 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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