Electrical appliance wholesaler’s brands continued to deliver growth despite ‘stagnant’ economy and reduced consumer spending ELECTRICAL appliance wholesaler Amalgamated Appliance Holdings (Amap) reported on Tuesday that revenue and operating profit leaped in its interim results to December."I think it’s a really good set of results. I am very proud of these figures and what the team has achieved," CEO Alan Coward said.South Africa’s retail environment had remained "tricky" in the period, he said, with punters looking for "every sale and deal".But the company also said that "stagnant" economic growth in South Africa and reduced consumer spending had not affected the strength of its brands, which continued to deliver organic growth.The company said turnover rose 22.8%, while operating profit had shot up 35.5% to R59.2m.Normalised earnings per share increased 16.1%. Such earnings exclude nonrecurring items.Cash on hand was R192.6m, the company said.Amap makes consumer electronics and ...
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