DIGEST DIGEST

ALEXFORBES HEADLINES EARNINGS DOWN

Pension funds administrator Alexforbes reported a double-digit decline in half-year headline earnings on Monday, as profits took a hit and the company raked up higher operating expenses. For the six-month period through to the end of September, the company’s headline earnings per share (Heps) fell 15percent to 16.1 cents, resulting from a decrease in profits from operations and an increase in its non-trading and capital items.

JET OWNER ON EXPANSION MODE

Fashion and homeware retailer TFG has embarked on an aggressive growth phase that includes adding hundreds of stores. The group is opening five shops daily, bolstering its e-commerce platform and eyeing possible acquisitions in the UK. TFG owns brands such as Foschini, SportsScene, Jet and @Home, and recently spent R2bn on homeware and furniture group Tapestry, which owns several home brands, including Dial a Bed and Coricraft.