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Business Update
Truworths International Limited
(Incorporated in the Republic of South Africa)
(Registration number 1944/017491/06)
JSE Code: TRU
NSX Code: TRW
ISIN: ZAE000028296
BUSINESS UPDATE
Truworths International Limited (the Group) announces that Group retail sales for
the first 26 weeks until 29 December 2013 of the 2014 financial period increased by
7.1% to R 5.9 billion, compared to a 14.8% increase in the corresponding prior
period, with credit sales growth of 6% and cash sales growth of 11%.
Like-for-like store retail sales for the 26 week period reflected an increase of 1.1%,
product inflation averaged 7%, and trading space increased by 10.7% relative to
the prior corresponding period-end. Credit sales comprised 71% of retail sales
(2013: 72%) during the period.
The trade receivables book has increased by 9.2% over the corresponding prior
period-end to R 4.9 billion. As previously advised, the Group has extensive
experience in managing credit risk in tough market conditions and will continue to
apply strategies to ensure the continued health of the debtors’ book and profitability
of the business.
Shareholders are advised that this update does not constitute an earnings forecast,
and that the financial information provided has neither been reviewed nor reported
on by the external auditors. The Group’s interim results for the 26 week period
ending 29 December 2013 are scheduled for release on or about Thursday,
20 February 2014.
16 January 2014
Cape Town
JSE Sponsor: One Capital
NSX Sponsor: Old Mutual Investment Services (Namibia) (Pty) Ltd
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