Homechoice feels the pressure of National Credit Regulator’s rules
Southern Africa’s largest home shopping retailer, HomeChoice, delivered a double-digit rise in interim earnings despite the slow economy. CEO Shirley Maltz said this had been achieved through tight credit management and retail sales growth of 24%. “The group performed well in the current retail and credit environment where high unemployment and persistent inflation in food and household expenditure continued to exert pressure on consumers. “In this environment, our priorities will be to maintain tight credit policies, cash collections and stringent cost control,” Maltz said. In the six months to June 2017, HomeChoice reported a 17.1% increase in headline earnings to R225m. Operating profit increased by 17.2%, to R329m as the operating margin improved by 70 basis points to 25%. The group declared an interim dividend of 82c per share, up 15.5% compared with the year-earlier period. Maltz said HomeChoice was one of the leading digital retailers in the country and had a focus primarily ...
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