Lewis lifts sales 5.5%
FMCG SUPPLIER NEWS
Fin24 - Jan 31st, 09:07
Johannesburg - Retailer Lewis Group [JSE:LEW] on Friday said merchandise sales for the quarter ended December 31 2011 increased by 5.5% off a high comparative base of 13% last year.
"Revenue for the quarter increased by 7.7% and for the nine months ended December 31 2011, revenue grew by 7.1%," it said.
That company added that the improving trend in collections experienced in the latter stages of the second quarter continued into the third quarter to December 2011.
Debtor costs for the nine months to December 2011 increased by 16% on the corresponding period, compared to an increase of 20% for the six months to September 2011.
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