Addressing the group's annual general meeting‚ chief executive Johan Enslin told shareholders that sales growth for the period was in line with 2012‚ while revenue was 4.7% higher because of increased financial services income from higher levels of credit sales and longer-dated contracts.
"The credit collection environment has become increasingly tough and the productivity of credit staff at stores remains a key focus‚" he said.
"Debtor costs for the period totalled R156.6m‚ which amounts to 2.7% of net debtors. This percentage is in line with the corresponding period last year‚" he said.
Management expects current trading conditions to continue for the remainder of the financial year.
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