Italtile investments, optimisation paying off

Cape Town - Italtile [JSE:ITE] is currently finalising its results for the six months ended December 31 2015 and expects its basic earnings per share (EPS) will be between 43.7 cents and 45.1c.

This reflects an increase of between 19% and 23% compared to the previous corresponding period in 2014 (36.7c) the company announced on Monday. Headline earnings per share (Heps) will be between 42.8c and 44.3c, reflecting an increase of between 20% and 24%. In 2014 it was 35.7c.

The company expects system-wide turnover for the six months ended December 31 2015 will be between 12% and 15% higher than the prior comparative period (R2.72bn), while trading profit will be between 15% and 19% higher (R459m in 2014).

According to the group, the performance reported for the six months is primarily attributable to management’s focus on key customer-facing components of the group’s offering, which resulted in improved levels of customer satisfaction and increased sales for the period.

The benefits realised from implementation of the Business Optimisation Programme (BOP) in the group’s supply chain and support services divisions and expansion of the programme into the retail brand operations also made a positive contribution.

Another positive factor was good returns from strategic investments by the group in its principal local suppliers, Ceramic Industries and Ezeetile.

These investments continued to support the business’s growth agenda, according to the group. The total contribution to group profits from these associates rose between 62% and 65%.

The group's results for the period are expected to be published on or about 11 February 2016.

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