The shop-front of a Truworths store in Johannesburg.
Image: Karen Sandison / Independent Newspapers
Truworths International, the fashion retailer, saw retail sales edge up 2.4% to R12.5 billion for the 26 weeks ended December 29, 2024, despite a tighter gross profit margin of 51.8%, down from 53.6% a year ago.
In unaudited interim results released on Thursday, the group reported headline earnings per share (Heps) slipping 4.6% to 489.2 cents from 513c, with diluted Heps down 4.3% to 483.2c.
Earnings per share (Eps) fell 8.1% to 488.6c, while the operating margin dipped to 22.5% from 24.5%. Cash generation, however, climbed to R3.3 billion from R2.7bn, bolstered by a month-end payment shift, lifting net cash to R1.2bn from a R124 million net debt position in 2023. Net asset value per share rose 21.9%.
The board declared an interim cash dividend of 317c per share, down 4.5% from 332c, payable on March 24, 2025.
Truworths, with Truworths Ltd and Office Holdings, said merchandise sales grew 2.5% to R12.1bn, reflecting modest gains in its operations.
The company and its subsidiaries operate primarily in South Africa and the UK, and have a presence in the Republic of Ireland and other sub-Saharan African countries.
The group, listed on the JSE, A2X, and Namibian Stock Exchange, operates through subsidiaries and wholesale partnerships in fashion, footwear, and homeware.
Shares in Truworths rose 1.82% on Thursday to close at R80.13 on the JSE.
BUSINESS REPORT
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