JOHANNESBURG - Furniture compamy Lewis said on Wednesday the turnaround in the performance of its traditional retail brands continued in the year to March, with strong merchandise sales growth and the early benefits of its diversification strategy driving headline earnings per share 24.3 percent higher to 376 cents.
It said its total dividend was up 17 percent to 234 cents per share.
Merchandise sales were boosted by the acquisition of United Furniture Outlets (UFO) and increased by 22.9 percent to R3.5 billion. Comparable store sales were up 6.9 percent.
The group’s strategy of diversifying across market segments and retail channels was starting to pay dividends, CEO Johan Enslin said.
"UFO is proving to be a sound acquisition, with new stores trading well. UFO contributed sales of R478 million in its first full 12 months in the group and has enabled the business to access higher income customers," he said.