In the six months to end-September 2016, TFG reported a 5.7% rise in headline earnings per share (HEPS) to 496.8c and a 16.9% increase in turnover to R11.4bn compared with the year-earlier period. TFG declared an interim dividend of 320c per share, which was 4.6% higher than in the prior year.
Turnover from TFG Africa (all its African operations) grew by 9.5%, with comparable sales growth of 2.1%. The international division, which comprises UK chains Whistles and Phase Eight, reported earnings growth of 48% in pounds for the period.
Murray said the results were impressive and had been achieved despite a subdued economic climate and a difficult trading environment, which had led to a decline in earnings for most retailers.
Despite the uncertain outlook for the domestic and global economy, Murray said that continued commitment to strategic objectives around growth, profit, customers and leadership development would support efforts to achieve a reasonable result for the full year.
"Cost control is a key focus area, but we are continuing our investment in future growth."
The company's share price fell more than 6% following the release of the results but by 2.18pm had recovered somewhat and was down 2.14% to R130.56.
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