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ITALTILE LIMITED - Sales Update for the Five Months to 30 November 2016

Release Date: 05/12/2016 07:05
Code(s): ITE     PDF:  
Wrap Text
Sales Update for the Five Months to 30 November 2016

ITALTILE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1955/000558/06)
Share code: ITE        ISIN: ZAE000099123
(“Italtile” or “the Group”)


Sales Update for the five months to 30 November 2016


Management is  hosting an investors’ visit  to  Italtile  and
Ceramic Industries’ facilities today, and as part  of  the
presentations, will provide a sales update as discussed below.

For the five months to 30 November 2016, total system-wide sales
(including new stores) increased to R2.9 billion, representing
growth of 14.7% compared with the previous corresponding period.
Nine TopT stores were  opened during  the five  months  to
30 November 2016, although their full contribution to revenue
will only be reflected in the following six months.

Like-on-like retail store turnover grew by 10% compared with the
previous corresponding period, with average price inflation
estimated at 7.9%. While trading conditions remained testing and
consumer discretionary spend constrained during the period, the
business benefited from continued improvements across  its
operations and a gain in market share.

The above information has not been reviewed and reported on by
the Group’s external auditors.


Johannesburg
5 December 2016

Sponsor
Merchantec Capital

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