TFG crosses R1bn mark in interim headline earnings
Apparel retailer TFG’s interim headline earnings exceeded R1bn for the first time — a result that CEO Doug Murray said was achieved through diversification, international expansion, discipline and cost control. In the six months to end-September 2016, TFG reported a 5.7% rise in headline earnings per share (HEPS) to 496.8c and a 16.9% increase in turnover to R11.4bn compared with the year-earlier period. TFG declared an interim dividend of 320c per share, which was 4.6% higher than in the prior year. Turnover from TFG Africa (all its African operations) grew by 9.5%, with comparable sales growth of 2.1%. The international division, which comprises UK chains Whistles and Phase Eight, reported earnings growth of 48% in pounds for the period.
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