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JSE – LEW Profile’s Stock Exchange Handbook: 2024 – Issue 3
NUMBER OF EMPLOYEES: 10 004
Lewis Group Ltd. DIRECTORS: Abrahams Prof F (ind ne),
Bodasing A (ind ne), DeeganBM(ind ne),
LEW
ISIN: ZAE000058236 MotsepeDR(ind ne), NjikizanaTH(ind ne),
SHORT: LEWIS Saven H (Chair, ind ne), Enslin J (CEO),
CODE: LEW Bestbier J (CFO)
REG NO: 2004/009817/06 POPULAR BRAND NAMES: Lewis, Best Home
FOUNDED: 1934 and Electric, Beares, Bedzone, UFO Furniture,
LISTED: 2004 Monarch Insurance
POSTAL ADDRESS: PO Box 43, Woodstock,
Scan the QR code to Cape Town, 7915
NATURE OF BUSINESS: visit our website EMAIL: graeme@tierlir.co.za
Lewis Group is a leading credit WEBSITE: www.lewisgroup.co.za
retailer of household furniture, TELEPHONE: 021-460-4400
electrical appliances and home electronics and has been listed COMPANY SECRETARY: Marisha Gibbons
on the JSE Ltd. since 2004 where it is classified under the TRANSFER SECRETARY: Computershare Investor Services (Pty) Ltd.
General Retailers sector. SPONSOR: Standard Bank of SA Ltd.
AUDITORS: EY Inc.
Through the Lewis, Best Home and Electric, Beares, Bedzone BANKERS: Absa Bank Ltd., First National Bank of Africa Ltd., Investec Bank Ltd.,
and UFO brands, the group has a branch network of 869 Nedbank Ltd., Standard Bank Ltd.
stores. This includes stores across all major metropolitan
areas as well as a strong presence in rural South Africa, with CALENDAR Expected Status
138 stores in the neighbouring southern African countries of Annual General Meeting Oct 2024 Unconfirmed
Botswana, Eswatini, Lesotho and Namibia. Next Interim Results Nov 2024 Unconfirmed
Lewis is the country’s largest furniture chain and one of the Next Final Results May 2025 Unconfirmed
most recognisable brands in furniture retailing, focused
primarily on the growing middle to lower income market in CAPITAL STRUCTURE AUTHORISED ISSUED
thelivingstandardsmeasurement(“LSM”)4to7categories. LEW Ords 1c ea 150 000 000 52 393 699
ThegrouphasexpandeditsofferingbeyondtheLewischainby DISTRIBUTIONS [ZARc]
developing the Best Home and Electric brand selling home ap- Ords 1c ea Ldt Pay Amt
pliancesaswellasfurniturerangesintheLSM4to7category. Final No 40 23 Jul 24 29 Jul 24 300.00
In 2014 the group embarked on a strategy of diversifying Interim No 39 16 Jan 24 22 Jan 24 200.00
across income groups and market segments by acquiring the Final No 38 18 Jul 23 24 Jul 23 218.00
long-establishedBeares brand. The Beares brand is focusedon Interim No 37 17 Jan 23 23 Jan 23 195.00
the middle-income market in the LSM 7 to 9 category. LIQUIDITY: Jun24 Avg 215 538 shares p.w., R9.0m(21.4% p.a.)
In2018,thegroupacquiredUFOasacontinuationofthegroup’s
GERE 40 Week MA LEWIS
diversification strategy. UFO is an independent, cash furniture
retailerwitharetailfootprintof39stores.UFOisrecognisedasa 5250
luxury brand with a value offering to the upper consumer
spectrum,namelyLSM9+.Bedzonewasestablishedin2022asa 4448
specialistretailerofbasesetstargetingcustomersintheLSM4to 3646
9 categories. Monarch Insurance, the group’s financial services
subsidiary, provides optional micro insurance products to 2844
customers purchasing merchandise on credit.
2042
SECTOR: ConsDiscr—Retail—Retailers—HomeImprovementRetailers
MAJOR ORDINARY SHAREHOLDERS as at 31 Mar 2024 2019 | 2020 | 2021 | 2022 | 2023 | 1240
Coronation Fund Managers (SA) 13.80%
Peresec Prime Brokers (SA) 8.63% Recent Announcements
FINANCIAL STATISTICS Lewis final results March 2024 - Friday, 31 May 2024: Lewis Group
(R million) Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 delivered a resilient performance in a weak retail trading
Final Final(rst Final Final Final(rst environment, reporting continued strong credit sales, robust
) ) growth in the debtors book, record high customer payment
Turnover 8 184 7 456 7 256 6 726 6 453 metrics and improved returns to shareholders.
Op Inc 690 609 668 696 254 Pressure on consumers’ disposable income from high energy,
NetIntPd(Rcvd) 138 98 24 88 64 food, fuel and borrowing costs continued to constrain the
Tax 154 156 191 172 90 Group’s cash sales and adversely impacted on the performance
Att Inc 436 411 483 433 182 of UFO, the Group’s cash retail brand.
TotCompIncLoss 425 422 486 422 216 The board has shown its confidence in the Group’s prospects
Hline Erngs-CO 500 510 561 463 205 and cash generating ability by increasing the total dividend by
Fixed Ass 442 426 396 386 324 21.1% to 500 cents per share. This is the third consecutive year
Right of Use Assets 794 760 747 635 694 that the Group has returned more than 100% of earnings to
Inv & Loans 243 257 266 254 228 shareholders through dividend payments and share buybacks.
Trademarks & Software 110 115 107 114 121 Dividend declaration
Goodwill - 60 151 182 188 Notice was giventhat a finalgross cash dividend of300 centsper
Def Tax Asset 64 50 83 112 166 share in respect of the year ended 31 March 2024 has been
Retirement&BenefitAss 109 107 110 105 107 declared payable to holders of ordinary shares.
Tot Curr Ass 5 771 5 270 5 047 5 035 5 561 Company outlook
Ord SH Int 4 703 4 693 4 717 4 873 4 710 Despite the mounting macroeconomic headwinds, the Group
LT Liab 1 188 821 805 656 705 continues to invest in longer-term growth strategies to support
Tot Curr Liab 1 643 1 531 1 385 1 295 1 974 revenue and margin. Twenty new stores are planned across the
traditional retail brands in the 2025 financial year to further
PER SHARE STATISTICS (cents per share) expand the Group’s extensive footprint. As consumer demand
EPS (ZARc) 806.30 695.60 730.70 576.40 232.10 for credit is expected to be maintained, the Group will continue
HEPS-C (ZARc) 924.60 863.50 848.70 616.50 260.20 to invest in the expansion of its debtors book, which is
DPS (ZARc) 500.00 413.00 413.00 328.00 185.00 motivated by the proven history of effective credit practices and
NAV PS (ZARc) 8 891.00 8 220.00 7 527.00 6 814.00 6 126.00 the quality of the debtors book.
3 Yr Beta 0.39 0.45 0.79 0.86 0.48
Price High 4 499 5 487 5 400 3 211 3 897
Price Low 3 500 3 751 2 835 1 201 1 520
Price Prd End 4 350 4 100 4 700 3 071 1 782
RATIOS
Ret on SH Fnd 9.28 8.76 10.24 8.88 3.87
Ret On Tot Ass 10.00 9.20 10.40 10.50 4.80
Oper Pft Mgn 8.43 8.17 9.20 10.34 3.93
D:E 0.34 0.25 0.15 0.07 0.12
Current Ratio 3.51 3.44 3.64 3.89 2.82
Div Cover 1.61 1.68 1.77 1.76 1.25
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