Advertise with fastmoving.co.za
 
 

Marketer Verimark’s share price jumped 26% to R1.02 after it issued an upbeat trading statement.
Marketer Verimark’s share price jumped 26% to R1.02 after it issued an upbeat trading statement.

Verimark shares soar after upbeat trading statement

RETAILER NEWS

By Robert Laing - Apr 12th, 13:45

Marketer Verimark’s share price jumped 26% to R1.02 after it issued an upbeat trading statement. 

Verimark said it expected to report on May 22 that its headline earnings per share (HEPS) for the year to end-February grew between 22.8% and 42.8%, from the prior year’s 24c.

The retailer said its pre-tax profit would be between R43m and R50.4m, an increase of up to 35% from the prior year’s R37.5m.

Verimark said it had benefited from the stronger rand along with the "introduction of a greater number of exceptional products, [which] contributed to improved sales and profits".

"Review of stock levels, as well as improved ranging of more products within core retailers, contributed to improved sales during the festive season and the second half of the financial year. Improved stock management assisted in meeting stock requirements," the company said in the trading statement.

© BusinessLIVE MMXVIII 

Read more about: verimark | trading | shares | retailer | retail | profit

Related News

Thavhani City mixed-use precinct attracts retail firsts and landmark healthcare facilities
24/04/2018 - 13:22
Thavhani City, the major economic centre in Thohoyandou, Limpopo, is set to be home to the largest flagship NHC medical day care clinic in South Africa and the first Builders Warehouse in the region.

Gucci and Guess settle 9-year legal battle over logo
24/04/2018 - 13:03
Gucci and Guess have finally settled a nine-year legal battle over the intellectual property of their interlocking G logos.

Old Navy to open 60 stores in 2018
24/04/2018 - 10:24
Gap is making a big bet on Old Navy.

AI and the retail revolution
23/04/2018 - 14:21
2018 has been widely touted as the year that practical applications of artificial intelligence reach maturity and begin to impact our day-to-day lives. However, it's not AI creating sentient robots that will be changing our lives in 2018, but instead, it will be how AI is applied within sectors like retail or financial services.

Toys ‘R’ Us Canada gets lifeline
23/04/2018 - 13:55
An investment firm has submitted a $236.8 million “stalking-horse” bid (C$300) to buy Toys “R” Us’ Canadian operations.