South Africa's Truworths posts profit decline of over 7 percent
By Respect Gwenzi, Aug 17, 2018
South African fashion retailer Truworths International reported a 7.3 percent fall in annual profit on Thursday, in line with analyst estimates, as consumers spent warily.
Truworths, which also runs British footwear chain Office, said diluted headline earnings per share (HEPS) for the 52 weeks to July 1 declined to 612.7 cents compared to the 53-week prior period. This was in line with the average estimate of 612 cents in a poll of eight analysts by Thomson Reuters I/B/E/S.
Headline EPS, a widely watched profit measure in South Africa, strips out certain one-off, non-trading items.
Shares in Truworths rose 4.05 percent after the announcement.
- Reuters
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