TFG gets R700m profit bump from Jet acquisition
The fashion group, which recognised a hefty gain on purchase in its acquisition of commercially viable Jet stores, has swung into a headline loss
05 November 2020 - 11:56
Fashion group TFG received a large profit bump from its acquisition of Jet stores, recognising an almost R700m accounting gain from the deal.
The group, whose brands include American Swiss, Foschini and Markham, reported profit of R416.3m for its six months to end-September, from R1.23bn previously, recognising a R694.3m gain on purchase, with this calculation a provisional one...
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