JD GROUP LIMITED - SALES UPDATE FOR THE FOUR MONTH
JD GROUP LIMITED - SALES UPDATE FOR THE FOUR MONTHS TO 15 JANUARY 2005
JD Group Limited
(Reg.No. 1981/009108/06)
JSE Code: JDG
NSX Code: JDL
ISIN: ZAE00030771
(`The Group`)
SALES UPDATE FOR THE FOUR MONTHS TO 15 JANUARY 2005
The demand for durable products during the first four months of the trading
period to 15 January 2005 remained buoyant. In the calendar month of December
2004, the Group exceeded R 1 billion in sale of merchandise for the first time.
Total sale of merchandise for the Group grew by 15% compared to the same period
last year. On a same store basis, the growth rate was the same.
In our Credit Chains, same store sale of merchandise grew by 18% in southern
Africa. Hi Fi Corporation increased its merchandise sales by 13% and ABRA, in
Poland, by 17%.
Overall deflation for the Group was 9%. The Credit Chains experienced inflation
of 3% in furniture (16% increase in units) and deflation of 9% in electrical
goods (23% increase in units). In Hi Fi Corporation deflation was 14% (33%
increase in units). Product margins increased again notwithstanding these
deflationary trends.
The Group maintains its conservative approach to credit granting. The quality
of the receivables continued to improve even further and arrears reduced in both
Rand and in percentage terms.
Every effort was made to ensure adequate availability of product for resale
during the high demand season and current inventories are in line with
forecasts.
The strong operational cash generation persisted with improved collections
across all chains.
Given the current economic environment, we expect trading conditions to remain
favourable for the remainder of the financial year.
Johannesburg
19 January 2005
Enquiries:
JD Group Limited
Tel: +27 11 408 0213
Jan Bezuidenhout, Director Corporate Services
College Hill
Tel: + 27 11 447 3030
Nicholas Williams
Lead Sponsor
Barnard Jacobs Mellet
Corporate Finance (Pty) Ltd
Joint Sponsor
PSG Capital Limited
Date: 18/01/2005 03:31:01 PM
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