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LEWIS GROUP LIMITED - Annual general meeting trading update

Release Date: 14/08/2015 11:00
Code(s): LEW     PDF:  
Wrap Text
Annual general meeting trading update

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”)

Annual general meeting trading update

At the group’s annual general meeting held today the Chief        Executive
Officer, Johan Enslin, presented the following trading update:

Trading for the four months ended July 2015 (“the period”) reflected an
encouraging trend on the four months to July 2014.        Merchandise sales
increased by 15.5% for the period, supported by the Beares brand which was
included in the results for the first time. Sales in Lewis and Best Home
and Electric increased by 6.3% for the period. The credit/cash sales mix
was similar to the 69% level reported for the 2015 financial year.

After providing for the refund to customers of approximately R69 million in
insurance premiums and interest (as communicated on SENS on 7 August 2015),
revenue for the period increased by 7.7% on the corresponding period.

Debtor costs for the period increased by 12.5% reflecting a further slowing
in debtor cost growth from the 22% growth reported at year end.

Management expects the retail trading and credit environment to remain
challenging as the consumer economy remains weak and unemployment remains
high.

The above information has not been reviewed or reported on by the group’s
independent auditor.


Cape Town
14 August 2015
Sponsor:
UBS South Africa (Pty) Ltd

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