Italtile’s sales up by 5% despite pessimistic consumer sentiment
The group said that trading conditions remained unfavourable in some units’ export markets, particularly Zimbabwe and Zambia.
“In the weak-demand environment, the creditable retail turnover growth achieved is attributable to management’s unwavering focus on improving the customer experience and driving sales through continued investment in people, technology, store layouts, merchandising and range,” the group said.
The sales update includes contribution from Ceramic Industries, in which Italtile holds a 95.47percent stake, and Ezee Tile Adhesive Manufacturers in which it controls 71.54percent.
The group said sales related to Ceramic and Ezee Tile are referred to as “manufacturing” sales to distinguish them from “retail” sales reported by its retail brands, such as CTM, Italtile Retail, TopT and U-Light.
Source: iol.co.za
