November 8, 2018 / 12:07 PM / 11 days ago

South African retailer TFG reports 8.3 pct rise in H1 earnings

A shopper walks past a Foschini store at a shopping centre in Lenasia, south of Johannesburg, file. REUTERS/Siphiwe Sibeko

JOHANNESBURG (Reuters) - South African retailer TFG (The Foschini Group) reported on Thursday a 8.3 percent increase in half-year earnings, as London, Australia and local operations contributed positively to revenue growth despite difficult trading conditions.

The firm, which also sells jewellery and furniture, said headline earnings per share (EPS) rose to 506 cents for the six months to September 30, up from 467.1 cents a year earlier.

Headline EPS is the main profit measure in South Africa and strips away certain one-off items.

Group turnover grew by 28.6 percent to 15.9 billion rand ($1.14 billion).

($1 = 13.9992 rand)

Reporting by Nqobile Dludla

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