HomeChoice interim earnings up, revenue increases by 16.1 percent

JOHANNESBURG – Investment holding company HomeChoice International on Monday reported headline earnings per share of  249.6 cents for the six months to June, compared with the same period in 2017.

Homechoice, the largest home shopping retailer in southern Africa, selling homeware merchandise and financial services to the expanding urban middle-income mass market, said revenue was up 16.1 percent to R1.5 billion.

It declared an interim dividend of 95 cents, up 15.9 percent on a year-on-year basis.

The group said it continued to position itself for ongoing growth, and that innovative retail and financial services product ranges would appeal to existing customers and attract new ones. While investing for the future, HomeChoice however remained cognisant of the prevailing tough trading environment.

“Consumers remain under severe pressure, unemployment is at record highs and there is a prevailing climate of political and labour uncertainty,” it said.

“Exchange rate volatility, as well as strike action, and particularly the recent postal strike, have the ability to negatively impact on the business.”

In this environment tight credit policies, robust cash collections and cost control would remain key management priorities, HomeChoice added.

– African News Agency (ANA)