Truworths sees 53-week EPS‚ HEPS 14%-17% higher

23 Jul 2012

Retailer Truworths on Friday said it expects both basic earnings and headline earnings per share for the 53-week period ended 1 July 2012 to be between 14% and 17% higher relative to the prior 52-week period ended 26 June 2011.

"The pro-forma performance for a comparable 52-week period is to be announced in conjunction with the group's audited results‚ which are expected to be published on or about 15 August‚" the company said.

In the current period‚ group retail sales increased by 12.7% (10.4% for the comparable 52-week period) to R9.1bn while product inflation averaged 8%. Comparable store retail sales grew by 8.4% (6.3% for the comparable 52-week period) for the current period and trading space increased by 6.3% relative to the prior period-end.

The comparable 52-week retail sales and comparable store retail sales information was extracted from the group's management accounts.

At the end of the current period the group's gross trade receivables had increased by 14% to R3.8bn relative to the prior period-end. Credit sales contributed 73% (prior period 71%) to retail sales and the receivables book continued to perform in accordance with management's expectations.

Source: I-Net Bridge

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