BRIEF-Italtile Says Weak Trading Conditions Persisted Over Review Period

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BRIEF-Italtile Says Weak Trading Conditions Persisted Over Review Period
Credit: © Reuters.

Feb 14 (Reuters) - Italtile Ltd ITEJ.J :

* ITALTILE LTD - HY HEADLINE EARNINGS PER SHARE 54,7 CENTS UP 13%

* ITALTILE LTD - HY DIVIDENDS PER SHARE 22,0 CENTS UP 29%

* ITALTILE LTD - WEAK TRADING CONDITIONS PERSISTED OVER REVIEW PERIOD

* ITALTILE LTD - HY SYSTEM-WIDE TURNOVER R5,3 BILLION UP 23%

* ITALTILE LTD - DURING REVIEW PERIOD, CURRENCY VOLATILITY PROVIDED CHALLENGES FOR IMPORTERS, DEMANDING JUDICIOUS STOCK AND CASH FLOW MANAGEMENT

* ITALTILE LTD - BELIEVES THAT SOLID HEADLINE EARNINGS GROWTH WILL BE ACHIEVED IN FORTHCOMING SIX MONTHS, ALBEIT NOT AT SAME LEVEL AS PCP

* ITALTILE - INVENTORY VALUE, AT PERIOD-END INCLUDING CONSOLIDATED INVENTORY BALANCES OF CERAMIC AND EZEE TILE INCREASED TO R846 MILLION (2017: R824 MILLION)

* ITALTILE LTD - ANTICIPATED THAT TRADING CONDITIONS WILL REMAIN VERY DIFFICULT OVER NEXT SIX MONTHS

* ITALTILE LTD - ONGOING SERVICE DELIVERY PROTESTS WILL DISRUPT TRADING IN STORES

* ITALTILE LTD - SHOULD REGULAR LOAD-SHEDDING BE REIMPLEMENTED, GROUP'S MANUFACTURING OPERATIONS WILL BE HAMPERED

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