Page 139 - Profile's Stock Exchange Handbook - 2025 Issue 3

Profile’s Stock Exchange Handbook: 2025 - Issue 3 JSE - LEW

Lewis Group Ltd. POSTAL ADDRESS: PO Box 43, Woodstock,
Cape Town, 7915
EMAIL: graeme@tierlir.co.za
ISIN: ZAE000058236 WEBSITE: www.lewisgroup.co.za
SHORT: LEWIS TELEPHONE: 021-460-4400
CODE: LEW COMPANY SECRETARY: Marisha Gibbons
REG NO: 2004/009817/06 TRANSFER SECRETARY: Computershare
FOUNDED: 1934 Investor Services (Pty) Ltd.
LISTED: 2004 SPONSOR: Standard Bank of SA Ltd.
NATURE OF BUSINESS: Scan the QR code to AUDITORS: EY Inc.
visit our website
Lewis Group is a leading credit BANKERS: Absa Bank Ltd., First National Bank of
Africa Ltd., Investec Bank Ltd., Nedbank Ltd.,
retailer of household furniture, Standard Bank Ltd.
electrical appliances and home electronics and has been CALENDAR Expected Status
listed on the JSE Ltd. since 2004 where it is classified Annual General Meeting Oct 2025 Unconfirmed
under the General Retailers sector. The group has a branch Next Interim Results Nov 2025 Unconfirmed
network of 918 stores which includes stores across all major Next Final Results May 2026 Unconfirmed
metropolitan areas as well as a strong presence in rural CAPITAL STRUCTURE Authorised Issued
South Africa, with 144 stores in the neighbouring countries LEW Ords 1c ea 150 000 000 52 159 288
of Botswana, Eswatini, Lesotho and Namibia.
DISTRIBUTIONS [ZARc]
The group operates the following primary brands: Ords 1c ea Ldt Pay Amt
- Lewis, the country’s largest furniture chain and one of the Final No 42 22 Jul 25 28 Jul 25 500.00
most recognisable brands in furniture retailing, focused Interim No 41 21 Jan 25 27 Jan 25 300.00
primarily on the growing middle to lower income market in Final No 40 23 Jul 24 29 Jul 24 300.00
16 Jan 24
22 Jan 24
Interim No 39
the living standards measurement (“LSM”) 4 to 7 categories. LIQUIDITY: Jun25 Avg 252 536 shares p.w., R17.8m(25.2% p.a.) 200.00
- Best Home and Electric, selling appliances as well as
furniture ranges in the LSM 4 to 7 category. LEWIS 40 Week MA GERE 9000
- Beares, a long established brand focussing on the middle 8000
income market in the LSM 7 to 9 category. 7000
6000
- UFO, a cash furniture retailer, with a value offering in the 5000
upper income spectrum being LSM 9 +. 4000
The group also operates a number of small bedding 3000
chains. Monarch Insurance, the group’s financial services 2000
subsidiary, provides optional micro insurance products to 1000
customers purchasing merchandise on credit. 2021 2022 2023 2024 2025
SECTOR: ConsDiscr--Retail--Retailers--HomeImprovementRetailers RECENT ANNOUNCEMENTS
MAJOR ORDINARY SHAREHOLDERS as at 31 March 2025 Lewis final results March 2025 - Thursday, 29 May 2025:
Coronation Fund Managers (SA) 13.80%
Peresec Prime Brokers (SA) 8.63% Lewis Group increased operating profit by 66.9% for the year
FINANCIAL STATISTICS ended 31 March 2025, driven by robust growth in credit sales,
Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 expanding gross profit, strong other revenue growth and
(R million) Final Final Final(rst) Final Final continued improvement in the quality of the debtors portfolio.
Turnover 9 288 8 184 7 456 7 256 6 726 The directors have demonstrated confidence in the Group’s
Op Inc 1 152 690 609 668 696 cash generating ability and growth prospects by increasing
NetIntPd(Rcvd) 205 138 98 24 88 the final dividend by 66.7% to 500 cents per share, resulting in
Tax 229 154 156 191 172
Att Inc 755 436 411 483 433 a total dividend of 800 cents per share for the year
TotCompIncLoss 771 425 422 486 422 Merchandise sales increased by 9.2% to R5.1 billion. After
Hline Erngs-CO 768 500 510 561 463 increasing by 8.5% for the first half of the year, merchandise
Fixed Ass 467 442 426 396 386 sales growth accelerated to 9.8% for the second six months.
Right of Use Assets 848 794 760 747 635 The strong credit sales growth trend continued, with credit
Inv & Loans 160 243 257 266 254
IntangileAssets&Goodwill 127 110 175 258 296 sales increasing by 12.1% and cash sales by 3.4%. Credit sales
Def Tax Asset 86 64 50 83 112 accounted for 68.0% of total merchandise sales (2024: 66.2%).
RetirementBenefitAssets 119 109 107 110 105 Other revenue, consisting of effective interest income and
Tot Curr Ass 6 634 5 771 5 270 5 047 5 035 ancillary services income as well as insurance revenue,
Ord SH Int 5 078 4 703 4 693 4 717 4 873 benefited from the strong credit sales growth in recent years
LT Liab 854 1 188 821 805 656
Tot Curr Liab 2 508 1 643 1 531 1 385 1 295 and increased by 19.1%.
PER SHARE STATISTICS (cents per share) The quality of the Group’s debtors book continued to improve,
EPS (ZARc) 1 456.90 806.30 695.60 730.70 576.40 with satisfactory paying customers reaching a record 83.5%
HEPS-C (ZARc) 1 482.50 924.60 863.50 848.70 616.50 (2024: 81.3%) and a solid collection rate of 78.9% (2024:
DPS (ZARc) 800.00 500.00 413.00 413.00 328.00 79.7%). Non-performing accounts reduced from 5.5% to
NAV PS (ZARc) 9 864.00 8 891.00 8 220.00 7 527.00 6 814.00
3 Yr Beta 0.48 0.39 0.45 0.79 0.86 4.1% of all credit customers. Debtor costs reduced by 2.6%, a
Price High 8 916 4 499 5 487 5 400 3 211 notable achievement given the 14.5% increase in the debtors
Price Low 4 260 3 500 3 751 2 835 1 201 book.
Price Prd End 7 090 4 350 4 100 4 700 3 071 Headline earnings increased by 53.5% to R768.2 million.
RATIOS Earnings per share increased 80.7% to 1 457 cents and
Ret on SH Fnd 14.86 9.28 8.76 10.24 8.88 headline earnings per share by 60.3% to 1 483 cents, reflecting
Ret On Tot Ass 15.00 10.00 9.20 10.40 10.50
Oper Pft Mgn 12.41 8.43 8.17 9.20 10.34 the positive leverage effect of the Group’s share repurchase
D:E 0.38 0.34 0.25 0.15 0.07 programme.
Current Ratio 2.65 3.51 3.44 3.64 3.89 Outlook
Div Cover 1.82 1.61 1.68 1.77 1.76 Consumer demand for credit is expected to remain high,
NUMBER OF EMPLOYEES: 10 423 and the Group aims to drive sales growth through its proven
DIRECTORS: Abrahams Prof F (ind ne), Bodasing A (ind ne), Deegan B merchandise and marketing strategies executed by the
(ind ne), Motsepe D R (ind ne), Njikizana T H (ind ne), Saven H (Chair, experienced executive and operational management team.
ind ne), Enslin J (CEO), Bestbier J (CFO) Despite the constrained retail environment, the Group will
POPULAR BRAND NAMES: Lewis, Best Home and Electric, Beares,
UFO Furniture, Bedzone, Real Beds, Monarch Insurance continue to invest for long-term growth in its debtors book
and store portfolio.
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