TRUb - Truworths International - Trading Statement
TRU
TRU
TRUb - Truworths International - Trading Statement
Truworths International Limited
Incorporated in the Republic of South Africa)
Registration number 1944/017491/06)
JSE Code: TRU
NSX Code: TRW
ISIN: ZAE000028296
TRADING STATEMENT
Truworths International Limited (`the Group`) announces that it is anticipated
that both basic and headline earnings per share for the 27 week trading period
to 30 December 2007 will be between 20% and 30% higher than those reported for
the corresponding 26 week period in 2006.
In a challenging trading environment, group sale of merchandise for the 27 week
trading period increased to R3 018 million, 20% above the corresponding 26 week
period in 2006. Comparable (same store) retail sales grew by 11% and product
inflation approximated 6% in the period.
The rate of sales growth has been negatively impacted by the implementation of
the National Credit Act and higher interest rate environment,which has also
slowed collections. Bad debt and the doubtful debt allowance have increased but
remain at the upper end of management expectations and have been substantially
offset by additional interest income.
20 Identity, 21 Truworths, 2 YDE and 9 Uzzi stores were opened and 4 Truworths
stores were closed resulting in an increase in trading space by 12% relative to
the position at 24 December 2006.
If the effect of the additional week in the current period were to be excluded ,
group sale of merchandise would have shown an improvement of 15% (7% on a
comparable basis), and both basic and headline earnings per share would be
anticipated to increase between 15% and 20%.
Shareholders are advised that the financial information contained in this
statement has neither been reviewed nor reported on by the external auditors,
and that the Group`s unaudited interim results for the 27 week period are
scheduled be announced on 21 February 2008.
Cape Town
18 January 2008
South African Sponsor: Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Namibian Sponsor: Old Mutual Investment Services (Namibia) (Pty) Limited
Date: 18/01/2008 12:37:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
