Financial services unit and bigger retail business lift HomeChoice
The specialist retailer and financial services company says innovation in its homeware textiles category and new retail brands helped it attract more customers
HomeChoice, which provides household goods as well as financial services, said on Monday that its headline earnings per share (HEPS) rose 15% to R2.50 in the six months to end-June from the year-earlier period. Group revenue growth was up 16% to R1.5bn, supported by its bigger retail business, as well as FinChoice, a vehicle through which the company provides financial services. The company said in a statement that it added 128,000 new customers, as a result of what it described as an innovation in its homeware textiles category and introduction of additional retail brands. It now sells more than 100 external brands, which contributed 13.3% to the total sales mix, according to the results statement. FinChoice grew revenue 13% to R375m, supported by 30% increase in loan disbursements, as well as insurance revenue. "A notable 86% of loan customers are registered for FinChoice’s digital platforms, underscoring its status as a leading fintech services provider in the mass market," the c...
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