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Italtile increases sales despite stressed consumers
Tile and sanitary ware manufacturer Italtile' s sales grew 14.7% to R2.9bn for the first five months to end-November, it said in a sales update on Monday morning.
The group, whose brands include Italtile Retail, CTM, and TopT, opened a further nine TopT stores during the period. This brought the group’s total to more than 150 stores.
Excluding new stores, revenue grew 10% and average price inflation was about 7.9%, the sales update said.
"While trading conditions remained testing and consumer discretionary spend constrained during the period, the business benefited from continued improvements across its operations and a gain in market share," Italtile said.
Source: BDpro
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