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Voluntary Sales Update for the Five Months Ended 30 November 2018
ITALTILE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1955/000558/06)
Share code: ITE ISIN: ZAE000099123
(“Italtile” or “the Group”)
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VOLUNTARY SALES UPDATE FOR THE FIVE MONTHS ENDED 30 NOVEMBER 2018
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In line with past practise, the Group has issued a voluntary sales update for the five months ended
30 November. The current period under review (“Review Period”) is therefore the five months ended
30 November 2018.
Following the acquisition of Ceramic Industries Proprietary Limited (“Ceramic”) with effect from
2 October 2017, the Group holds a 95.47% stake in Ceramic and an effective 71.54% in Ezee Tile
Adhesive Manufacturing Proprietary Limited (“Ezee Tile”). Accordingly, this sales update, which
includes the contribution of both businesses for the full five months ended 30 November 2018 is not
directly comparable with the previous corresponding period ended 30 November 2017. Sales related
to Ceramic and Ezee Tile are referred to as “manufacturing” sales to distinguish them from “retail”
sales reported by Italtile’s retail brands (CTM, Italtile Retail and TopT).
SALES
Total retail store turnover for the Review Period increased by 7.0%, while like-on-like retail store
turnover rose by 5.8% compared to the previous corresponding period.
Manufacturing sales for the Review Period grew by 7.6% compared to the previous corresponding
period.
TRADING CONDITIONS
Weak trading conditions persisted over the five months, as consumers continued to experience
financial hardship in the current adverse economic climate. The Group’s sales trended positively over
the Review Period, with stronger results reported for the second half than the first half of the Review
Period.
The stronger sales are attributable to management’s focus on enhancing the customer shopping
experience through improved execution. Key focus areas included development of sales skills, and
enhancing the range, fashion and availability of business critical merchandise - with the Group‘s
mantra, being to ensure that the customer enjoys the right product at the right time, place and price.
In this context, double digit growth was reported by the TopT and Italtile brands, while CTM recorded
a positive turnaround, largely derived from increased efficiencies, combined with benefits achieved
from the launch of the brand’s high-profile multi-media advertising campaign, which has been well
received by consumers.
The above information has not been reviewed and reported on by the Group’s external auditors.
Johannesburg
4 December 2018
Sponsor
Merchantec Capital
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