Italtile to proceed with expansion even as SA’s prospects deteriorate
Declining confidence in the building sector and the prospect of SA being downgraded to junk status is weighing on the owner of CTM
13 February 2020 - 08:29
Bathroom-ware company Italtile, which owns CTM and U-Light, said on Thursday it was proceeding with expansion plans, even as it warned SA’s declining economic prospects were particularly tough on the building and construction sectors.
Trading profit rose 6% to R1.029bn in the company’s half year to end-December, but the company now expects growth in its second half to be less robust than expected...
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