HOMECHOICE INTERNATIONAL PLC - Voluntary trading update

Release Date: 13/04/2018 10:32
Code(s): HIL
 
Wrap Text
Voluntary trading update

HomeChoice International PLC
(Incorporated in the Republic of Malta)
(Registration number C66099)
Share code: HIL
ISIN:MT0000850108
(the “Group”)

VOLUNTARY TRADING UPDATE

The group experienced continued good demand in the first three months of the 2018 financial year.
Group revenue for the quarter increased by 14.1% to R720.0 million, relative to the comparable period
in 2017.

Retail revenue for the same period increased by 12.5% to R540.8 million, driven by retail sales growth
of 16.4% to R397.5 million. Retail customers continue to respond well to the Group’s innovative
products and expanded brands offering. Strong growth in loan disbursements and an increasing
contribution from the insurance business resulted in the Financial Services division revenue growing by
19.1% to R179.2 million.

The rapid adoption among customers of the Group’s mobile channels enhances their shopping
experience and convenience and endorses the Group’s strategy of becoming a leading digital
department store and favourite digital financial services partner to its customers.

Outlook

The Group continues to see good demand for its products and is well positioned to take advantage of
improving economic conditions, as well as to capitalise on the growing digital adoption by customers.
Interim results for the six months ending 30 June 2018 will be released on SENS on or about 27 August
2018.

Shareholders are advised that this update has not been reviewed or reported on by the Group’s external
auditors and does not constitute an earnings forecast.

Qormi, Republic of Malta
13 April 2018

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 13/04/2018 10:32:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story