Lewis expects higher headline earnings as credit book remains healthy

Furniture group and lender Lewis will report a healthy headline earnings rise of at least 15% for the year ending in March, thanks to good sales and an improving credit book.

Headline earnings for the period, a profit measure in SA, are expected to be 15%-25% higher than the previous year’s R463m, reaching at least R533m. Due to share buybacks in 2021, Lewis has fewer shares in issue, than in 2020. This has inflated the headline earnings per share figure, that will increase 30%-40%...

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