Lewis profits from playing its cards right during pandemic
Paid-up accounts are the healthiest in 13 years thanks to the government’s stimulus schemes, says furniture retailer
27 May 2021 - 08:47
Better-than-expected customer account payments, thanks to government’s stimulus schemes, saw furniture group Lewis release money it had set aside for unpaid accounts back into its books.
The furniture company that owns chains including Beares and United Furniture Outlets (UFO) grew revenue by 4.2% to R6.7bn, but boasted a 136.9% rise in headline earnings per share, which is a widely used profit measure in SA. ..
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