South Africa's Truworths sees annual profit drop 28% on lockdown impact

  • Reuters
  • Stock Market News
South Africa's Truworths sees annual profit drop 28% on lockdown impact

JOHANNESBURG, Sept 3 (Reuters) - South African retailer Truworths International Ltd TRUJ.J reported on Thursday a 28.2% decline in full-year earnings, blaming the impact of the COVID-19 pandemic.

The owner of YDE clothing stores said for the 52 weeks through June 28, headline earnings per share (HEPS) - South Africa's main profit gauge, stripping out some one-off items - fell to 410.4 cents from a restated 571.7 cents a year earlier.

Truworths also impaired the carrying value of its British footwear unit Office's assets. Total non-cash impairment charges - excluded from HEPS - amounted to 132 million pounds($156.52 million). ($1 = 0.7539 pounds)

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