Home improvement boom unlikely to last, warns Italtile
A comprehensive vaccine rollout may halt a recent surge in home improvement, but the pandemic has entrenched the value of homes for many consumers
26 August 2021 - 08:58
UPDATED 26 August 2021 - 14:32
Bathroomware company Italtile, which owns CTM and U-Light, is pressing ahead with expansion plans after setting a number of records for its 2021 year, including a R1.4bn shareholder payout, even as it warns SA’s boom in home improvement is unlikely to last.
As global economies reopen in the wake of vaccine rollouts, international trends pointed to a slowdown in home activity, CEO Jan Potgieter told Business Day. However, the group remained confident in its business model and could open and additional 10 new stores in its 2022 year...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.