TFG, whose diversified retail footprint covers 3,328 outlets in 34 countries, has overcome difficult trading conditions to deliver 11.6 percent retail turnover growth (R23.5 billion March 2017 year-end).
CEO Doug Murray (pictured) said:
"We are extremely pleased with these results and with our international acquisitions. While cost control remains a priority and key focus area, we will continue to invest for future growth."
Headline earnings grew by 10.1 percent for the year, while headline earnings per share (excluding acquisition costs) increased to 1 099,2 cents per share (from 1 055,8 cents per share), a growth of 4.1 percent. The Group declared a final cash dividend of 400 cents per share - an increase of 3.9 percent. The total dividend for the year is accordingly 720 cents per share, up 4.2 percent.
Performance within the international division has been ahead of expectation and peer group performance, Murray added, with good progress made on the strategic targets set for upmarket brands Phase Eight and Whistles.
Post year-end, in line with its international growth strategy, the Group announced the acquisition of 100-percent of the share capital of Retail Apparel Group, a leading specialty menswear retailer in Australia and New Zealand. Moreover, with effect from 3 April 2017, the Group acquired 14 G-Star RAW franchise stores in Australia.
Murray is confident about the future, despite political and economic uncertainty. He said:
"Our continued commitment to our strategic objectives around customer, leadership, profit and growth will support our future success. Our investment in the UK and Australian markets strengthens our diversified portfolio of brands and provides a solid platform for further growth opportunities in these markets."
The Group plans to open more than 110 international outlets in the current financial year. It also proposes 150 new African stores in the same period, which will increase trading space by around five percent.
