Italtile H1 earnings, revenue likely to rise
On the back of higher turnover and an ongoing optimisation programme, JSE-listed ceramic tile and sanitaryware provider Italtile expects its basic earnings a share from continuing operations for the six months ended December 31, to increase by between 27% and 29% to between 36.3c and 36.9c.
The company outlined in a trading statement on Friday that headline earnings per share (HEPS) from continuing operations would likely increase to between 35.5c and 36.1c, also reflecting an increase of between 27% and 29% on the HEPS reported in the first six months of the prior year.
HEPS had been adjusted for the post-taxation impact of an R11-million profit on the sale of property.
Trading profit growth from continuing operations of between 20% and 22% would, meanwhile, translate into after-tax profit growth from total operations of between 35% and 37%.
This increase was owing to the profit on the R11-million property sale, a R7-million one-off share-based payment charge related to the Italtile staff share scheme, as well as an increased contribution from associates Ceramic Industries and Ezeetile of R27-million.
Profit growth was further driven by net finance income of R2-million related to the reduction in a long-term loan and a lower effective tax rate resulting from reduced consolidated dividend-withholding tax charges.
The prior period had also seen R12-million in one-off losses related to discontinued operations.
The company, meanwhile, expected turnover from continuing operations for the period to be between 18% and 20% higher than the prior comparative period.
“The performance reported for the six months is attributable to continued focus on the group’s business optimisation programme in key areas, including information technology systems, the supply chain and in-store efficiencies to enhance the customer shopping experience,” the group said.
Italtile expected to release its first-half results on February 16.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...
VISIT SHOWROOM
Industrial Nozzles & Systems (Pty) Ltd (Est. 2000) exclusive representative in Southern Africa for LECHLER GmbH (Est. 1879) - Europe's leading...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
