BUSINESS DAY TV: Italtile expects tougher financial second half
Brandon Wood is chief financial officer at Italtile. BUSINESS DAY TV: Building supplies retailer Italtile released its interim numbers today — the turnover for the period rose 14% to R3.5bn, with trading profits up 12% to R594m. In the studio now to talk about the results and outlook is chief financial officer Brandon Wood. Brandon … so let’s start with that 14% rise in turnover, what’s the split between new stores and like-for-like sales? BRANDON WOOD: If we look at from a retail stores perspective, because our numbers are a bit of a jumble, which I’ll explain shortly. From a retail store perspective we’ve got 8.8% like-on-like sales. When you look at our system-wide turnover we’ve also got an element of the supply chain sales into our franchise stores in there, which drives the total number. But 8.8% like-on-like retail with 7.6% price inflation, which means we had some nice volume growth. BDTV: Yes, except for the same stores it was only 1% increase on a real basis? BW: Yes. BDTV...
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