Picture: FINANCIAL MAIL
Picture: FINANCIAL MAIL

Furniture retailer Lewis Group says earnings rose by up to a quarter in the year to end-March thanks in part to the recovery of its traditional store brands.

The group said it was boosted by “the continued turnaround in the performance of the traditional retail brands — Lewis, Best Home and Electric, and Beares”.

It also benefited from the inclusion of the results of United Furniture Outlets (UFO) for the full 12 months, versus just two months in the previous year.

“Costs were again tightly contained below the growth in sales while collection rates and debtors’ costs continue to reflect an improving trend,” Lewis said.

Margins “remained stable”.

Headline earnings per share rose between 20% and 25%, the group said. It expects to report on May 22.

hedleyn@businesslive.co.za