UFO helps Lewis Group sales take off as SA corruption worsens

LEWIS Group delivered a strong sales performance after its acquisition of United Furniture Outlets (UFO) for the quarter to end-December. The furniture retailer, which traditionally focuses on low-income earners and runs 799 stores, says UFO, which sells goods for cash to middle- to upper-income customers, is the main reason merchandise revenue rose 22.8% for the quarter.

THE value of wine exports grew 4% in 2018, despite a difficult season and a long-term trend of producers dwindling. The value of exports grew to R9.6bn, said Wines of SA, despite a low-yielding harvest due to drought.

CAPE TOWN is seeing an increase in cruise ship visits. Between October and January 20, a total of 17,518 people got off in the city from such vessels. For the 2019/2020 season, 30 vessels are expected to make 49 stops in Cape Town. For 2020/2021, 32 vessels, with 67 stops are already confirmed.

CORRUPTION is getting worse in SA, according to the 2018 Corruption Perceptions Index by Transparency International. SA had a score of 43 in 2018‚ down from 45 in 2017.

the largest producer of rough

DE BEERS, diamonds by value, reported its lowest first sales in four years. The difficulties around demand for lower-value rough diamonds — the small stones making up the bulk of diamond mining production — have continued from the previous year when CEO Bruce Cleaver flagged slowing purchases by Indian cutters and polishers, who specialise in small stones.

WORKERS at Eskom will strike during election week to protest the possible sale of shares and planned job cuts at the state-owned power utility, according to a regional branch of the National Union of Mineworkers. SA will hold national and provincial elections some time in May.