Foschini's earnings up 18.8%

Clothing retailer Foschini has boosted its headline earnings by 18.8% for the six months ended September.

9 Nov 2012

Headline earnings per share rose to 396,1 cents up from 333,3 cents in the previous year.

The strategic initiatives undertaken by the group over the past few years continue to positively impact on the company's performance‚ despite substantial management challenges‚" Foschini said.

The group's retail turnover jumped by 12.6% to R6.1bn.

The group opened 70 stores and now has 1‚920 outlets. Its trading space has grown by 2.6%.

Foschini declared an interim dividend of 236 cents a share, up 24.2% from the previous period.

"Notwithstanding the challenging economic environment‚ we are confident we can deliver a satisfactory result for the full year‚" Foschini added.

Source: I-Net Bridge

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