{"id":29605,"date":"2022-04-25T18:45:17","date_gmt":"2022-04-25T18:45:17","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/the-foschini-group-expects-profit-surge-says-kzn-flood-impact-is-not-material"},"modified":"2022-04-25T19:13:09","modified_gmt":"2022-04-25T19:13:09","slug":"the-foschini-group-expects-profit-surge-says-kzn-flood-impact-is-not-material","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/the-foschini-group-expects-profit-surge-says-kzn-flood-impact-is-not-material","title":{"rendered":"The Foschini Group expects profit surge, says KZN flood impact is not material"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>In a trading update for the year to end-March, retailer The Foschini Group (TFG) says its headline profit should be more than 692.6 cents per share, compared to 197.9 cents per share in the previous year.<\/p>\n

The company, which also owns @home, American Swiss and various other retail brands, also confirmed that 36 of its stores as well as a cloth warehouse were damaged in the floods that hit KwaZulu-Natal this month.<\/p>\n

But TFG says the flood damage has not been material.<\/p>\n

\u201cThese damages are not considered to be material in the context of the group\u2019s South African operations and all affected stores have since resumed trading. The group has appropriate insurance cover and has notified its insurers accordingly,\u201d said TFG.<\/p>\n

The group reported a strong trading performance in South Africa, the UK and Australia in the second half of the financial year. This offset the impact of the July unrest in KwaZulu-Natal, as well as a R2.7 billion goodwill impairment at its TFG London operations<\/p>\n

TFG’s share price was slightly higher on Monday morning following the update, trading up 18c to R139.59.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. In a trading update for the year to end-March, retailer The Foschini Group (TFG) says its headline profit should be more than 692.6 cents per share, compared to 197.9 cents per share in the previous year. The company, which also owns @home, American Swiss and various other retail brands, also confirmed that […]<\/p>\n","protected":false},"author":84,"featured_media":29604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3,8],"tags":[274,315,1595,1596,275,1597],"class_list":["post-29605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","category-homepage-english","tag-africa-press","tag-africa-press-south-africa","tag-flood","tag-retail","tag-south-africa-2","tag-tfg"],"yoast_head":"\nThe Foschini Group expects profit surge, says KZN flood impact is not material - South Africa<\/title>\n<meta name=\"description\" content=\"In a trading update for the year to end-March, retailer The Foschini Group (TFG) says its headline profit should be more ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/the-foschini-group-expects-profit-surge-says-kzn-flood-impact-is-not-material\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Foschini Group expects profit surge, says KZN flood impact is not material\" \/>\n<meta property=\"og:description\" content=\"In a trading update for the year to end-March, retailer The Foschini Group (TFG) says its headline profit should be more ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/the-foschini-group-expects-profit-surge-says-kzn-flood-impact-is-not-material\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-25T18:45:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-25T19:13:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/04\/postQueueImg_8-6266f2941571f.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"754\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/the-foschini-group-expects-profit-surge-says-kzn-flood-impact-is-not-material#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/the-foschini-group-expects-profit-surge-says-kzn-flood-impact-is-not-material\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"The Foschini Group expects profit surge, says KZN flood impact is not material\",\"datePublished\":\"2022-04-25T18:45:17+00:00\",\"dateModified\":\"2022-04-25T19:13:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/the-foschini-group-expects-profit-surge-says-kzn-flood-impact-is-not-material\"},\"wordCount\":207,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/the-foschini-group-expects-profit-surge-says-kzn-flood-impact-is-not-material#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/04\/postQueueImg_8-6266f2941571f.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"flood\",\"retail\",\"South-Africa\",\"tfg\"],\"articleSection\":[\"all news\",\"community\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/the-foschini-group-expects-profit-surge-says-kzn-flood-impact-is-not-material#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/the-foschini-group-expects-profit-surge-says-kzn-flood-impact-is-not-material\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/the-foschini-group-expects-profit-surge-says-kzn-flood-impact-is-not-material\",\"name\":\"The Foschini Group expects profit surge, says KZN flood impact is not material - 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