CHRIS GILMOUR: TFG can hold its head high over swift adjustments
Trading expenses and the net debt to equity ratio declined while group online turnover rose
Anyone unfamiliar with the impact of the Covid-19 pandemic on the discretionary retail sector would take one look at TFG’s interim results to end-September and run for the hills.
Group revenue fell 26% to R14bn, operating profit was 88% down at R280m and the group made a headline loss per share of 91c against the positive 531c of the previous interim. ..