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Lewis sticks with share buybacks as earnings climb

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Furniture group increases its dividend 25.9% on posting a healthy set of results

With its share price at a six-year high, SA’s largest furniture group Lewis says it has no intention of halting an aggressive share buyback programme, maintaining that the market still undervalues it by 30%.

Lewis, which has low debt and a healthy balance sheet has been buying back shares since 2017, scooping up 12% of its shares in issue in the 2022 financial year to end-March, the most in a single year...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

 

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