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Johannesburg - Taste Holdings [JSE:TAS] on Wednesday reported that both its food and jewellery divisions experienced positive sales growth in December.
For the period March 1 to December 31, 2011 its jewellery division, consisting of the NWJ brand, recorded a system-wide sales increase of 4.2% when compared to the comparable period in 2010.
This increase was on the back of fewer jewellery stores.
Same-stores sales growth increased from 0.5% for the six months ended August 31, 2011, to 1.5% for the year to date.
"Of significance was the continued strong sales performance of the 18 corporate-owned jewellery outlets, with a year-to-date same-store sales increase of 14.6%," the company said.
The food division, consisting of Scooters Pizza, St Elmo's Woodfired Pizza and Maxi's, showed a year-to-date increase in system-wide sales of 26.6% with same-store-sales increasing 5.4% for that period.
Fish & Chip Co acquisition
It also said its subsidiary, Buon Gusto Cuisine has finalised its acquisition of The Fish & Chip Co. It expects that the acquisition will be earnings-enhancing within the first year.
"Buon Gusto will take delivery of the business on February 1 and it is anticipated that the business will have approximately 215 outlets on this date, exceeding the initial expectation of 195 outlets," Taste said.
The purchase price was R65m, along with a maximum of R1m of stock on hand.
For the period March 1 to December 31, 2011 its jewellery division, consisting of the NWJ brand, recorded a system-wide sales increase of 4.2% when compared to the comparable period in 2010.
This increase was on the back of fewer jewellery stores.
Same-stores sales growth increased from 0.5% for the six months ended August 31, 2011, to 1.5% for the year to date.
"Of significance was the continued strong sales performance of the 18 corporate-owned jewellery outlets, with a year-to-date same-store sales increase of 14.6%," the company said.
The food division, consisting of Scooters Pizza, St Elmo's Woodfired Pizza and Maxi's, showed a year-to-date increase in system-wide sales of 26.6% with same-store-sales increasing 5.4% for that period.
Fish & Chip Co acquisition
It also said its subsidiary, Buon Gusto Cuisine has finalised its acquisition of The Fish & Chip Co. It expects that the acquisition will be earnings-enhancing within the first year.
"Buon Gusto will take delivery of the business on February 1 and it is anticipated that the business will have approximately 215 outlets on this date, exceeding the initial expectation of 195 outlets," Taste said.
The purchase price was R65m, along with a maximum of R1m of stock on hand.
