Italtile issues trade statement

Cape Town - Italtile [JSE:ITE] announced on Wednesday that it is currently finalising its results for the six months ended 31 December 2016.

The group’s basic earnings per share will be between 50.5 cents and 51.8c for the period, reflecting an increase of between 14% and 17% compared to the prior corresponding period ended 31 December 2015, being 44.3c.

Headline earnings per share will be between 46.0c and 47.3c for the period, reflecting an increase of between 6% and 9% (2015: 43.4c).

System-wide turnover for the period is 14% higher than the prior comparative period (2015: R3.08bn), while trading profit will be between 10% and 13% higher (2015: R531m).

System-wide turnover is the aggregate of the group’s consolidated turnover - total sales by group owned entities and corporate stores, excluding sales from owned supply chain businesses to corporate stores - as reported and the turnover of franchisees of the group.

Like-on-like retail store turnover for the period is 9% higher than the prior comparative period, with average price inflation of 7.6%. Retail store turnover is the aggregate of turnover of all stores, either corporate or franchised, in the group’s retail network.  

The information on which the latest announcement is based has not been reviewed or reported on by Italtile's auditors.

The group's results for the six months ended 31 December 2016 are expected to be published on Sens on or about 10 February 2017.

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