South African fashion retailer Truworths International TRUJ.J on Thursday reported a 1.3% rise in half-year profit, as strong sales at the UK shoe chain's office offset weakness in its African business due to a slowdown in consumer spending.
Headline earnings per share (HEPS) rose to 495.4 cents in the six months ended Dec 28, while group trading profit, which excludes interest income, rose 2.8% to 2.1 billion rand ($132 million).
By 1424 GMT, shares were up 3.65%, boosted by the retailer posting HEPS at the top end of its 489 cents to 499 cents guidance range. Group retail sales were unchanged at 12.5 billion rand. Gross profit margin also remained unchanged at 51.8%.
Truworths Africa retail sales fell 3.6% to 7.9 billion rand. In contrast, UK-based shoe retailer Office's sales rose 6.4% to 191.9 million pounds ($259.72 million).
Truworths declared an interim dividend of 321 cents per share, an increase of 1.3%.
Source: reuters