LEW - Lewis Group Limited - Results of AGM and statement by Chief Executive
LEW
LEW
LEW - Lewis Group Limited - Results of AGM and statement by Chief Executive
Officer
Lewis Group Limited
Incorporated in the Republic of South Africa)
Registration number: 2004/009817/06)
JSE share code LEW
ISIN: ZAE000058236
("Lewis" or "the company")
RESULTS OF AGM AND STATEMENT BY CHIEF EXECUTIVE OFFICER
1. APPROVAL OF RESOLUTIONS
At the Annual General Meeting of the Lewis Group shareholders held on
Friday 13 August 2010, all the ordinary resolutions contained in the notice
of the meeting dated 19 May 2010 were passed with the requisite majorities.
2. STATEMENT BY CHIEF EXECUTIVE OFFICER
Chief Executive Officer, Johan Enslin, provided the following update on the
group`s trading performance at the Annual General Meeting:
Against the background of a challenging trading environment it is pleasing
to report that merchandise sales continued to show a steady improvement in
the four months ended July 2010 and increased by 9% over the corresponding
period last year.
The debtors` book reflects stabilising debtor costs and improving customer
payment performance.
The rate of increase in debtor costs slowed to 21% (R18 million) for the
first quarter to 30 June 2010 compared to an increase of 38% (R24 million)
reported in the first quarter of the previous financial year.
Satisfactory paid customers comprised 72.1% of debtors at the end of the
first quarter compared to 70.5% in the same period last year.
Cape Town
13 August 2010
Sponsor: UBS South Africa (Pty) Ltd
Date: 13/08/2010 11:35:01 Produced by the JSE SENS Department.
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