Italtile shares take a leap on favourable trading update
By Sandile Mchunu
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Italtileâs share price gained almost 4 percent on the JSE after the group revised its earnings up for the six months to end December.
The manufacturer, franchisor and retailer of tiles, bathroom-ware and other related home-finishing products said in its second trading update that it expected its headline earnings per share (Heps) to increase by between 33 and 43 percent, to be between 73.5 cents a share and 79.1c compared to 55.3c reported last year.
The groupâs retail sales include those reported by brands such as CTM, Italtile Retail, TopT and U-Light and are represented through a network of 198 stores, including six webstores.