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Trading update for the 52 weeks ended 28 June 2015
Truworths International Limited
(Incorporated in the Republic of South Africa)
(Registration number 1944/017491/06)
JSE Code: TRU
NSX Code: TRW
ISIN: ZAE000028296
TRADING UPDATE FOR THE 52 WEEKS ENDED 28 JUNE 2015
Truworths International Limited (the Group) announces that it expects that Group diluted
headline earnings per share for the 52-week period ended 28 June 2015 (the period) will
increase between 2% and 4%, to between 580.7 cents and 592.1 cents, relative to the
corresponding prior period (the prior period).
Group retail sales for the period increased by 8.2% to R11.6 billion compared to a 6.8%
increase in the prior period. Retail sales in the second half of the period increased 12.0%,
against the first half increase of 5.2%.
Excluding the retail sales recorded by the recently acquired Earthchild and Naartjie
businesses, Group retail sales for the period increased by 7.2% to R11.5 billion. Second half
retail sales increased 9.8% compared to the first half increase of 5.2%.
Credit sales comprised 70% of retail sales (2014: 71%) during the period, with credit sales
increasing 10.6% in the second half and 5.4% in the first half.
Like-for-like store retail sales increased 4.2% in the second half of the period after
decreasing by 0.8% in the first half, bringing the full period increase to 1.3%.
Trading space increased by 7.7% (6.1% excluding the space increase attributable to the
businesses acquired) and product inflation averaged 5.6% for the period.
At the end of the period the Group’s trade receivables book had increased by 10.8% to
R5.2 billion relative to the prior period-end. Management has continued to manage credit
risk through applying strategies aimed at ensuring the good health of the book.
The above results, unless otherwise stated, include the results of the Earthchild and Naartjie
businesses with effect from 1 March 2015 and 1 April 2015 respectively, following the
Competition Commission approval of the acquisitions.
Shareholders are advised that this trading update does not constitute an earnings forecast,
and that the financial information provided herein has neither been reviewed nor reported on
by the external auditors. The Group’s final audited results for the period are scheduled for
release on or about Thursday 20 August 2015.
16 July 2015
Cape Town
JSE Sponsor: One Capital
NSX Sponsor: Old Mutual Investment Services (Namibia) (Pty) Ltd
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