Verimark expects profit of up to R41 million

Despite a currently difficult retail environment, Verimark has said it expects improved profits for the financial year ending 28 February 2017.

The board of directors has said it is fairly sure that when compared to the audited results for the previous period, the Company will record a profit before tax of between R33.7 million and R41.2 million - an increase of between 157 percent and 214 percent.

The company has said the profit increase is a result of the combination of sales price increases and a stronger rand. A reduction in and containment of costs also helped.

The Company's financial results for the 2017 financial year are expected to be published on or about 23 May 2017.

Pictured: Michael Van Straaten, Verimark CEO