JOHANNESBURG – Furniture banker Lewis Accumulation said on Tuesday it had delivered a solid trading and operational achievement for the year concluded March afore actuality impacted by Covid-19 and a civic lockdown which contributed to banderole antithesis per allotment crumbling by 30.8 percent to 260 cents.
The aggregation said Covid-19 adjustments bargain accumulation afore tax by R339 actor and banderole antithesis by R224 million.
This included an admission in the debtors crime accouterment of R123 actor as a aftereffect of absent collections in March due to abundance closures during the lockdown, a added admission of R190 actor in the debtors crime accouterment for the abeyant bread-and-butter disruption of Covid-19 and its appulse on approaching chump annual payments and an crime allegation of R27 actor for the accessible approaching appulse of the coronavirus.
Despite the banking furnishings of the bloom pandemic, Lewis declared a absolute allotment of 185 cents per allotment for the year, although this was bottomward from 234 cents in 2019.
“The backbone of our antithesis area and banknote position ensured that we did not charge to admission any coffer allotment during the lockdown period, admitting all our food actuality bankrupt for an continued period,” accumulation arch controlling administrator Johan Enslin said.
The banker absent acute trading canicule over the March ages end aeon at the alpha of the lockdown, consistent in it accident commodity sales of about R80 actor and chump annual collections of R180 million.
Lewis broadcast its abundance brand to 794 afterward the aperture of 19 and cease of 9 food during the year. The accumulation affairs to accessible 20 new food in the 2021 banking year.
Enslin said sales had been able afterward the reopening of food from June 1 back the government airy Covid-19 restrictions.
“The accepted sales drive is actuality accurate by pent up appeal from accumulation accumulated during lockdown,” he said.
“We are assured customer spending to arrangement in a column Covid-19 recessionary environment. Customers in our acceptable lower to average assets ambition bazaar are additionally accessible to the ascent levels of unemployment in the country due to the appulse of the pandemic.”
African News Agency
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