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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
(“the Group”)
BUSINESS UPDATE
In the Group’s 2014 preliminary report published on 21 August 2014, the Group
predicted that the trading and credit environment would remain challenging during
the 2015 financial year.
Against this background the Group announces that retail sales for the first 18
trading weeks (30 June to 2 November 2014) of the 2015 financial year increased
by 4.7% to R 3.7 billion, relative to the corresponding prior period, with cash sales
growth of 5.4% and credit sales growth of 4.5%.
Gross trade receivables increased to R 4.7 billion and were 9% higher than at the
prior corresponding period-end, principally as a consequence of the ongoing
transition by account customers to 12 month interest bearing payment plans. In
these tough market conditions, the Group will utilise its extensive experience to
manage the risk of fashion through its proven merchandise design and buying
processes, and manage credit risk through continuing to apply strategies to ensure
the ongoing health of the debtors’ book.
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 Group’s external auditors. The Group’s interim results for the 26 week
period ending 28 December 2014 are scheduled for release on or about 19 February
2015.
6 November 2014
Cape Town
JSE Sponsor: One Capital
NSX Sponsor: Old Mutual Investment Services (Namibia) (Pty) Ltd
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