HARARE – Apparel retailer Edgars Stores’ after-tax profit for the six months to July 5 marginally declined to $1,045 million from $1,097 million registered in the prior year on increasing expenses, the company reported yesterday.
Despite revenue climbing to $31 million from $28 million, cost of sales and finance costs ate into the company’s earnings.
Cost of sales advanced to $15,4 million from $14,2 million. Total turnover for the company’s 25 stores was 12,3% above last year.
The company’s debtors book had 203 728 accounts as at the end of June, from 188 447 last year, with 71,3% of them active, the company said.
Volumes the company’s manufacturing unit increased 35% to 170 197 items from 126 221 in the first half of 2013.
No interim dividend was declared.
-The Source
