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Why What’s Up:South African furniture store Lewis posted 14.5 percent growth in profits in six weeks Monday, since it benefits from reduced interest prices as properly as the tentative economic recovery.Lewis, who targest budget furniture market, stated on Monday headline earnings every share have been 332.5 cents for the six weeks via September, compared with 290.5 cents a 12 months ago.
Headline EPS is a key indicator of profit in South Africa and removes some disposable and non-trading items.

The business stated revenue rose 9.8 percent to 2.14 billion rand.

Retail sales in the greatest economy in Africa, which emerged from economic depression in the third quarter of last year, have been driven out as their customers battle against unemployment and higher debt.

But the slow economic recovery and interest prices at their lowest since 1980, inspired by some retailers to make an optimistic appeal to customer need next year.Lewis stated he expects the outlook for its customers to enhance steadily against the background of wage increases and in anticipation belonging to the upcoming holidays.The business stated it would pay an interim dividend of 156 cents, up 8.3 percent more than exactly the same period.Shares Lewis received about 35 percent this year, outpacing 13 percent growth in All-share index in Johannesburg.