Lockdown and looting beneficial for Italtile
July sales fell as rampage shut shops, but group expects manufacturing business to benefit from rebuilding
12 August 2021 - 10:54
UPDATED 12 August 2021 - 15:54
Bathroomware company Italtile, which owns CTM and U-Light, has flagged a rise of about three-quarters in profit for its year to end-June, and expects its manufacturing interests to benefit in coming months as retailers rebuild in the wake of SA’s worst riots in decades.
More time at home, less spending on travel and entertainment, as well as low interest rates have all been cited as factors in strong sales growth for Italtile, which earned almost as much headline profit in its half-year to end-December than in the preceding full financial year...
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