JDG - JD Group Limited - Sales update for the four months to 15 January 2009
JDG
JDG
JDG - JD Group Limited - Sales update for the four months to 15 January 2009
JD Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1981/009108/06)
ISIN: ZAE000030771
JSE code: JDG
("JD Group")
SALES UPDATE FOR THE FOUR MONTHS TO 15 January 2009
Total sale of merchandise for the first four months of trading was 3.3% up on
the corresponding period of the previous year.
The cash businesses (incorporating Incredible Connection, Hi-Fi Corporation and
Abra in Poland) showed a 8.7% overall increase in merchandise sales. Both
Incredible Connection and Abra showed excellent top line growth. While Hi-Fi
Corporation traded 9.9% down on the previous year its product margin was 1.1%
higher.
The credit chains traded 1.4% down on the corresponding period. Our entry level
chains, Price `n Pride and Barnetts, did however fair better than the universal
chains, growing merchandise sales by 4.3%.
Revenue from financial and other services showed a year on year decline of 2.6%.
The provision for bad debts has decreased to 13.2% of debtors compared with
13.3% at 31 August 2008. Receivable arrears as a percentage of receivables
stands at 18.2% compared to 19.4% at 31 August 2008. This has resulted in total
debtors` costs decreasing by 7.1% over the corresponding period.
The information provided above has not been reviewed or reported on by the
Group`s auditors.
29 January 2009
Johannesburg
SPONSOR
PSG Capital (Proprietary) Limited
Date: 29/01/2009 15:00:04 Produced by the JSE SENS Department.
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