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Johannesburg - Rex Trueform Clothing Company [JSE:RTO] on Friday announced diluted headline earning per share (Heps) of 106.3 cents for the six months ended December 2010, from 72.6c previously.
It noted diluted earning per share (EPS) of 106.3c, from 72.7c earlier.
Total revenue increased to R290.26m from R246.65m, reflecting an improvement in the trading environment. Total operating profit advanced to R27.33m from R17.72m in 2009, which was "achieved through a better performance by the group's core retail activities and an improvement in the contribution of the manufacturing and property segments".
The group said that a higher level of consumer confidence resulted in an improvement of 14.4% in the turnover of the group's Queenspark and J CREW retail stores.
"This increase in turnover was largely generated by existing stores, certain of which were refurbished, relocated or expanded during the past year. One new store was opened during the period as management concentrated on improving the performance of the existing store base. Same-store sales increased by 11%," it said.
The operating profit of the retail segment improved by 17.2%. This represented a 10.1% return on turnover, compared with 9.9% in the corresponding period.
Rex Trueform said extraneous expenses, related to a reorganisation of the manufacturing operation during the comparative period, negatively affected results for that period.
It said that although the six months under review reflected some recovery in consumer confidence, particularly in Queenspark's niche retail market, it was expected that the second half of the current financial year would not provide the same level of growth as achieved during this first half to December 2010.
It noted diluted earning per share (EPS) of 106.3c, from 72.7c earlier.
Total revenue increased to R290.26m from R246.65m, reflecting an improvement in the trading environment. Total operating profit advanced to R27.33m from R17.72m in 2009, which was "achieved through a better performance by the group's core retail activities and an improvement in the contribution of the manufacturing and property segments".
The group said that a higher level of consumer confidence resulted in an improvement of 14.4% in the turnover of the group's Queenspark and J CREW retail stores.
"This increase in turnover was largely generated by existing stores, certain of which were refurbished, relocated or expanded during the past year. One new store was opened during the period as management concentrated on improving the performance of the existing store base. Same-store sales increased by 11%," it said.
The operating profit of the retail segment improved by 17.2%. This represented a 10.1% return on turnover, compared with 9.9% in the corresponding period.
Rex Trueform said extraneous expenses, related to a reorganisation of the manufacturing operation during the comparative period, negatively affected results for that period.
It said that although the six months under review reflected some recovery in consumer confidence, particularly in Queenspark's niche retail market, it was expected that the second half of the current financial year would not provide the same level of growth as achieved during this first half to December 2010.
