LEWIS GROUP LIMITED - SALES UPDATE FOR THE QUARTER
LEWIS GROUP LIMITED - SALES UPDATE FOR THE QUARTER ENDED DECEMBER 2004
Lewis Group Limited
Incorporated in the Republic of South Africa)
Formerly Rowmoor Investments 505 (Proprietary) Limited)
Registration number: 2004/009817/06)
JSE share code: LEW ISIN: ZAE000058236
(`Lewis`)
SALES UPDATE FOR THE QUARTER ENDED DECEMBER 2004
The quarter ended 31st December 2004 was a highly successful one for Lewis,
building on the strength of the same quarter last year.
Merchandise sales increased by 11% compared to the corresponding quarter last
year, with like - for - like growth of 9%. Sales grew consistently in all
geographic regions.
Furniture sales, which accounted for about half of Lewis` sales in the quarter,
increased by 16% in Rand and by 18% in units. Electricals, where sales growth
in Rand was 9%, also saw unit volume growth of 18% with price deflation
stimulating consumer demand.
As expected, total revenue growth in the quarter continued to be slower than
merchandise sales growth because of the impact of lower finance charge rates and
an increasing proportion of cash sales. Credit sales accounted for 78% of total
sales compared to 85% for the quarter last year.
Cash collections from debtors during the period were strong, with the debtors`
book reflecting a continuing improvement compared to last year.
Alan Smart, CEO of Lewis, said:
`Strong volume growth in both furniture and electrical sectors provides evidence
that Lewis continues to attract new business as well as benefiting from
significant customer loyalty`.
The above information has not been reviewed or reported on by Lewis` auditors.
Cape Town
12 January 2005
Sponsor: UBS
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