Homechoice FY HEPS up 15%

23 Mar 2015

Home shopping retailer Homechoice International PLC headline earnings per share (HEPS) increased 15% to 352.8c in the year ended December 2014‚ the investment holding company said on Friday, 23 March 2015.

Revenue was up 17.8% to R2bn and retail sales increased 16.4% to R1.1bn. The total dividend increased 46% to 161c.

Through its operating subsidiaries‚ HomeChoice and FinChoice‚ the group sells homeware‚ personal electronics and loan products to the rapidly expanding mass middle-income market in southern Africa.

HomeChoice currently trades in five countries outside SA‚ contributing 11% of retail sales.

The group plans to open an office in Mauritius during 2015 as a base from which to drive the pan-African expansion strategy.

Looking ahead‚ the company said the trading environment was not expected to show any marked improvement in the year ahead as the outlook for economic growth in the country was muted.

The retail product range would be extended and expanded into new categories‚ while the company would be launching an insurance business‚ it said.

Source: BDpro via I-Net Bridge

Source: I-Net Bridge

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