ITALTILE, a franchisor and retailer of domestically made and imported tiles, saw turnover jump 14% to nearly R6bn in the year ended June.Trading profit had risen 16% to more than R1bn, while margins firmed, primarily due to containment of increases in overheads and increased rebate income, the group said on Thursday. Average price inflation was 6.5%. Headline earnings per share shot up 21% to 86.9c.But CEO Nick Booth played down the result. "As it is for most people, it is tough (economically). But there are opportunities in the market," he said.The main aim of the group was to be the first-choice retailer in its market segment, he said, offering high service levels and the "right product, at the right time, place, and price".The group also distributes sanitaryware, bathware, laminated flooring, and related home-finishing products, mainly for refurbishing markets.Operations comprise Italtile Retail, CTM, and TopT across a network of 146 stores in Southern and Eastern Africa.During t...
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