Timber products supplier says the industry is still battling oversupply, slow macroeconomic growth and the over-indebtedness of the South African consumer TIMBER products supplier KayDav on Wednesday said the industry was still battling oversupply, slow macroeconomic growth and the over-indebtedness of the South African consumer.The group was, however, optimistic these factors will ease this year and next.KayDav reported a 13% increase in headline earnings per share from 10.3c to 11.6c for the year to December‚ driven by increased profitability and the effects of share repurchases.Raw and value-added wood-based panels, which it distributes, are used in the construction, furniture manufacturing, kitchen and shop-fitting industries.Revenue grew 13.9% to R550.9m from R483.6m previously. The group experienced pressure on gross margins during the second half of the 2012 financial year. Gross profit was only 12.2% higher than that of the previous corresponding period."The lack of selling ...
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