HOW TO GROW ITS MARKET

20 000 NEW MEMBERS A MONTH

HOMECHOICE International plc, the leading retailer in homeware and financial services in the middle-income mass market in southern Africa, grew its market at the rate of 20 000 members a month to 265 000 new customers in the year ended December 2018. Though decrying a subdued economic environment, HomeChoice yesterday said that it grew revenue by 8.5 percent to R3.2 billion, operating profit by

2.6 percent to R763 million and cash generated from operations by 32 percent to R474m, with credit extended on digital channels increasing 43.9 percent to 38.5 percent of all credit. Earnings per share grew 2.1 percent to 506.8 cents, while it declared a final dividend of 99c, with a total dividend up 1.6 percent to 194c a share. A solid contribution from the financial services business with loan disbursements up 21.5 percent was diluted by weaker retail sales of 6.3 percent growth, largely attributable to significant upheavals at the SA Post Office, which is a key delivery business partner of HomeChoice. “Our vision is to provide for our customers’ lifestyle, “the group said.