Company Data
| Last traded |
R74.00 |
| Change |
R-0.03 |
| % Change |
-0.04% |
| Cumulative volume |
184,376 |
| Market cap |
R7.26bn |
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Johannesburg - Furniture retailer
Lewis Group [JSE:LEW] posted a 14.5% rise in half-year profit on Monday, as it benefits from lower interest rates and a tentative economic recovery.
Lewis, which targest the low-end furniture market, said on Monday headline earnings per share totalled 332.5c in the six months to end-September, compared with 290.5c a year ago.
Headline EPS is the main profit gauge in South Africa and strips out certain one-off and non-trading items.
The company said revenue rose 9.8% to R2.14bn.
Retailers in Africa's biggest economy, which emerged from a recession in the third quarter of last year, have been squeezed as their customers battle with unemployment and high debt.
But the slow economic recovery and interest rates, at the lowest since 1980, have inspired some retailers to make upbeat calls for consumer demand in the coming year.
Lewis said it expects outlook for its consumers to improve steadily on the back of higher wage increases and ahead of the upcoming holiday season.
The company said it would pay an interim dividend of 156c, up 8.3% on the comparable period.
Shares in Lewis have gained around 35% so far this year, outpacing a 13% rise in Johannesburg's all-share index.