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Italtile expects headline earnings per share for the six months to December to rise as much as 5.8%, but warned that basic earnings per share might fall. In a trading statement released on Wednesday, the tiles retailer said basic earnings per share were expected to decline to between 48c and 49.1c, from 50.8c in 2016. Headline earnings per share were expected to grow by between 3.4% and 5.8% to between 48c and 49.1c. The group attributed the disparity between basic earnings and headline earnings growth to a gain of R37m realised following the disposal of the Italtile Australia property holding business and the R15m the group gained when it disposed of its properties in SA. Italtile has 162 stores in SA and outside the country under brands such as CTM, Italtile Retail and TopT. The group’s system-wide turnover was R4.3bn, from R3.5bn in the previous period. System-wide turnover includes total sales from Italtile-owned entities, corporate stores and turnover from its franchisees. Reta...

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