TRU - Truworths International Limited - Business Update
TRU
TRU
TRU - Truworths International Limited - Business Update
Truworths International Limited
(Incorporated in the Republic of South Africa)
(Registration number 1944/017491/06)
JSE Code: TRU
NSX Code: TRW
ISIN: ZAE000028296
BUSINESS UPDATE
Truworths International Limited (`the Group`) announces that Group retail sales
for the first 18 weeks (from 29 June until 1 November 2009) of the 2010
financial year increased by 10% to R 2.3 billion relative to the corresponding
period in the 2009 financial year. Comparable (same store) retail sales
increased by 2%, product inflation measured approximately 12% and trading space
increased by 9% relative to the corresponding period in 2009.
Retail trading conditions remained difficult and South African consumers are
still under pressure despite declining interest rates. Conditions are expected
to remain challenging for the balance of the 2010 financial year, in line with
announcements made in the Group`s preliminary and annual reports for the year to
June 2009. Management will continue to focus on expense control, managing the
risk of credit and consistently applying its merchandise strategies to ensure
that the risk of fashion is appropriately managed.
The debtors` book increased by 11% to R2.6 billion relative to the corresponding
period in 2009 and the performance of the debtors` book remains satisfactory and
in line with management`s expectations.
Shareholders are advised that this update does not constitute an earnings
forecast, and that the financial information provided has neither been reviewed
nor reported on by the external auditors. The Group`s interim results for the 26
week period to 27 December 2009 are scheduled to be announced on or about 18
February 2010.
5 November 2009
Cape Town
JSE Sponsor: Barnard Jacobs Mellet Corporate Finance (Pty) Ltd
NSX Sponsor: Old Mutual Investment Services (Namibia) (Pty) Ltd
Date: 05/11/2009 09:45:01 Produced by the JSE SENS Department.
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