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TRUWORTHS INTERNATIONAL LIMITED - Business update

Release Date: 05/11/2015 09:45
Code(s): TRU     PDF:  
Wrap Text
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 retail sales for the first
18 trading weeks to 1 November 2015 of the 2016 financial period increased by
19% to R4.4 billion, relative to the corresponding prior period, with cash sales
growth of 25% and credit sales growth of 17% including non-comparable retail
sales for Earthchild and Naartjie.

Excluding the retail sales recorded by the Earthchild and Naartjie businesses that
were acquired subsequent to the corresponding prior period, the Group retail sales
for the period increased by 16% to R4.3 billion.

Like-for-like store retail sales, which exclude Earthchild and Naartjie retail sales,
increased by 10% for the period, whilst product inflation averaged 7%. Credit sales
comprised 69% of retail sales (2014: 71%) during the period. Credit sales excluding
retail sales attributable to the Earthchild and Naartjie businesses comprised 71% of
retail sales during the period.

Gross trade receivables increased to R 5.4 billion and were 15% higher than at the
corresponding prior period-end. The percentage of active account holders able to
purchase is at 85% compared to 84% in the corresponding prior period.

The Group will continue to 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 on-going 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 27 December 2015 are scheduled for release on or about 18 February
2016.


5 November 2015
Cape Town
JSE Sponsor: One Capital
NSX Sponsor: Old Mutual Investment Services (Namibia) (Pty) Ltd

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