.gif)
What you need to know about the new direct marketing guidance note
Nadine Mather and Chloë Loubser
Marketing & Media trends
Industry trends
BizTrends Sponsors
JD Group FY HEPS at 93.6c vs 397.1c in 2013
Retail company JD Group's (JDG) full-year headline earnings per share (HEPS) were 93.6c in the year ended June 2014 from 397.1c in the year-earlier period‚ the group said on Monday, 8 September 2014.
Group revenue from continuing operations increased by 4.9% to R30.6bn from R29.2bn in the year-earlier period‚ while operating profit from continuing operations decreased to R537m from R1bn previously‚ primarily as a result of the "challenging operating conditions" in the household goods‚ appliances and electronics retail environment‚ the company said.
The loss from discontinued operations for the year amounted to R2.1bn. The JD Group did not declare a full-year dividend.
The year under review remained very challenging as customers' disposable income continued to decline‚ which affected both the retail and consumer finance businesses‚ the company said.
"Management restructured the business materially during the year to ensure the sustainability of the business. Operating expenses pertaining to continuing operations increased by only 3.1% to R7.4bn‚ reflecting the result of management's efforts to restructure the business and its focus on cost reduction‚" it said.
The group said it had accepted an offer from an international consumer finance provider to acquire‚ subject to due diligence and conditions precedent‚ JD Group's consumer finance division‚ excluding its insurance operations.
Meanwhile‚ Unitrans Auto remained the largest contributor of revenue and profits for the group‚ the company said.
"Despite a subdued automotive retail market and disruptions caused by the motor industry strikes‚ revenue increased by 13.2% and margins were largely maintained at 2.9%‚" it said.
Looking ahead‚ management said it was confident that the correct strategic and operational plans were being put in place to grow market share in the household goods and appliances and electronics market.
"This‚ coupled with the product-related insurance offering‚ should increase the contribution from these businesses in future years. SteinBuild is now well-poised to take advantage of both organic and acquisitive opportunities going forward. Used vehicle sales are expected to improve as a result of new vehicle price inflation due to the weaker South African currency‚" the company said.
Source: Business Day
Source: I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
