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Rex Trueform profits to plunge

November 15 2012 at 08:00am

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Rex Trueform experienced difficult trading conditions with earnings and headline earnings a share for the six months to December expected to be between 90 percent and 110 percent lower than those for the previous corresponding period, the clothing company said yesterday. This followed an announcement, when the group released its financial year-end results in September, that cautioned that the retail segment would remain under pressure in the 2013 financial year. The company said at the time that strategic initiatives were being undertaken, which required an initial outlay but should have a positive affect in the medium term. Shares were unchanged on the JSE at R17.50 yesterday. – Staff Reporter


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