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Trading update for the nine months ended 31 December 2014
Lewis Group Limited
Incorporated in the Republic of South Africa
Registration number: 2004/009817/06
JSE share code LEW
ISIN: ZAE000058236
LEW01 ISIN: ZAG000110222
("the group")
TRADING UPDATE FOR THE NINE MONTHS ENDED 31 DECEMBER 2014
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.
Cape Town
27 January 2015
Sponsor
UBS South Africa (Pty) Ltd
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