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Lewis Group's June revenue up 4.7% y/y

19 Aug 2013

The Lewis Group says trading for the quarter ended June had remained challenging‚ with continued uncertainty in the labour market and rising unemployment, fuelling a cautious outlook among consumers in the group's target market.

Addressing the group's annual general meeting‚ chief executive Johan Enslin told shareholders that sales growth for the period was in line with 2012‚ while revenue was 4.7% higher because of increased financial services income from higher levels of credit sales and longer-dated contracts.

"The credit collection environment has become increasingly tough and the productivity of credit staff at stores remains a key focus‚" he said.

"Debtor costs for the period totalled R156.6m‚ which amounts to 2.7% of net debtors. This percentage is in line with the corresponding period last year‚" he said.

Management expects current trading conditions to continue for the remainder of the financial year.

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za