ITALTILE REPORTS SOUND RETAIL PERFORMANCE, IMPROVED MANUFACTURING RESULTS, STRONG CASH AND A ROBUST SPECIAL DIVIDEND
26 August 2024
Johannesburg; Monday, 26 August 2024: "Significant change in the structure of the competitive landscape – in both the tile retail and manufacturing industries – has resulted in the emergence of numerous new competitors. In this context, aggravated by weak consumer demand, our primary focus is on improving the Group's competitive position to retain our industry leadership through our robust retail and manufacturing assets and teams. This translates to being more competitive and efficient at every customer satisfaction touchpoint: fashion, range, price, service and quality. In our goal to remain industry leaders, we will continue to unlock and extract value from within our business through our unrelenting drive for efficiencies and cost leadership," says Lance Foxcroft, Chief Executive Officer.
ITALTILE REPORTS CREDITABLE RETAIL RESULTS AND ROBUST CASH RESERVES DESPITE CHALLENGING ENVIRONMENT WHICH WEIGHED DOWN MANUFACTURING
19 February 2024
Johannesburg; Monday, 19 February 2024: Chief Executive Officer, Lance Foxcroft, says, "Our focus during the review period was on improving execution of the sales strategy in the retail division, improving performance in the manufacturing division and optimising our recently commissioned large-scale capex projects. We are pleased to report that the retail operation’s results were creditable, progress was made in correcting performance in the manufacturing division, and we continued to bed down our Ezee Tile and Samca+ investments. However," he notes, "the remedial actions taken at Ceramic will only be felt in the period ahead; furthermore, the unrelentingly difficult external environment continued to weigh heavily on consumer sentiment and spend, which impacted on selling prices, volumes and efficiencies in Ceramic’s factories, and had a significantly adverse effect on Group results."
ITALTILE DELIVERS SOLID RETAIL RESULTS, BUILDS MANUFACTURING CAPACITY AND GROWS CASH RESERVES
28 August 2023
Johannesburg; Monday, 28 August 2023: “During the period we made meaningful progress in building our manufacturing capabilities and enhancing the in-store experience for our customers, reflecting our goal to optimise our investment in people and technology. Disappointingly, difficult trading conditions and internal inefficiencies impacted negatively on our South African businesses, although our East African and Australian operations delivered better results. Improvement strategies are being implemented in the SA manufacturing entities,” says Lance Foxcroft, Chief Executive Officer.
ITALTILE GROWS SALES AND CASH DESPITE CHALLENGING TRADING ENVIRONMENT
13 February 2023
Johannesburg; Monday, 13 February 2023: Chief Executive Officer, Lance Foxcroft, says, “Notwithstanding the challenging environment, the Group achieved sales growth and substantially improved the underlying cash position, underpinned by our strategic, vertically integrated business model, diversification, and scale, which afford us the resilience and agility to navigate cyclical challenges and capitalise on opportunities that arise.”
ITALTILE’S STRATEGIC FOCUS ON INTERNAL GROWTH LEVERS COUNTERS CHALLENGING TRADING CONDITIONS
25 August 2022
Johannesburg, Thursday, 25 August 2022:" In the increasingly challenging operating environment, our goal is to provide an unrivalled end-to-end customer shopping experience that differentiates our offering and connects with our customers at every key touchpoint. Our focus is on basic retail excellence disciplines: delivering beautifully presented, aspirational products at the right time, place and price. Our aim is to provide our customers with leading-edge affordable fashion while pushing boundaries to reduce the impact on the planet - in line with our values and those of our customers," says Lance Foxcroft, Chief Executive Officer.
ITALTILE DELIVERS SOLID RESULTS DESPITE PRESSURE ON MASS MIDDLE MARKET AND DECLINE OF HOME IMPROVEMENT BOOM
10 February 2022
Johannesburg, Thursday, 10 February 2022: "In the current challenging external environment, our strategic focus is on the growth levers within our control and influence: productivity, cost leadership, partnerships with our people, and constant innovation and investment aimed at delivering an unrivalled shopping experience for our customers," says Chief Executive Officer, Lance Foxcroft.
ITALTILE OUTPERFORMS PRIOR YEAR AND 2019 PRE-PANDEMIC RESULTS
26 August 2021
Johannesburg, Thursday, 26 August 2021: "Over the past year, our Group's mindset evolved from single-minded survival mode to a profound sense of gratitude for our numerous blessings amid the challenges we face in South Africa. Our business performed extraordinarily well under very tough conditions and I am humbled to have led a team of people who demonstrated the best of humanity through their commitment, courage and resilience. In our business we say that our unique culture is the glue that binds us together – this tumultuous period has tested the glue and found it unyielding." Jan Potgieter, Chief Executive Officer.
ITALTILE ANNOUNCES RETIREMENT OF CEO AND APPOINTMENT OF SUCCESSOR
03 May 2021
Bryanston; Monday, 3 May 2021: The Board of Italtile has announced that Chief Executive Officer, Jan Potgieter, will be retiring with effect from 31 December 2021 and emigrating to Europe. Jan will remain on the Board as a non-executive director.
ITALTILE DELIVERS ROBUST RESULTS BASED ON INTERNAL FOCUS - AND BENEFITS FROM HOME IMPROVEMENT TREND
11 February 2021
Johannesburg; Thursday, 11 February 2021: "It is rewarding to report that despite the unprecedented trading environment, the Group has delivered a pleasing performance for the review period, recording double-digit sales and profit growth across all of our operations: retail brands, supply chain importers and manufacturing businesses," says Italtile CEO, Jan Potgieter.
ITALTILE REPORTS SOLID RESULTS, STRONG CASH AND FURTHER EXPANSION PLANS
25 August 2020
Johannesburg, Tuesday, 25 August 2020: 'In these extraordinary times, our people have demonstrated energy, determination and resilience beyond our expectations. Their enthusiasm to revive the business after lockdown and their continued commitment to curbing the spread of the virus to ensure uninterrupted service to our customers has been key to this solid set of results and the long-term sustainability of our business. The response from our customers has also been resoundingly encouraging; their support for our offering and endorsement of our rigorous safety protocols has been inspiring," says Jan Potgieter, CEO.
ITALTILE'S RESILIENT BUSINESS MODEL AND INTERNAL FOCUS DEFY CHALLENGING TRADING ENVIRONMENT
13 February 2020
Johannesburg; Thursday, 13 February 2020: "Notwithstanding the challenging external environment, management remains committed to optimising on the opportunities within its control in the business to drive continued growth," says Italtile CEO, Jan Potgieter.
ITALTILE DELIVERS ANOTHER CONSECUTIVE YEAR OF GROWTH AND CELEBRATES 50TH ANNIVERSARY WITH SPECIAL DIVIDEND
22 August 2019
Johannesburg; Thursday, 22 August 2019: "Despite the exceptionally difficult trading conditions experienced, the Group has recorded a creditable performance, achieving our stated goal of delivering improved headline earnings growth for the year. The 7.2% increase is a reflection of leveraging opportunities in the business, from robust cost leadership to striving for an unparalleled customer experience. Our people, franchise partners and portfolio of brands are key to another successful year in the Group's five-decade history," says CEO, Jan Potgieter.
ITALTILE‘S CREDITABLE RESULTS ATTRIBUTABLE TO INTERNAL FOCUS IN DIFFICULT EXTERNAL ENVIRONMENT
14 February 2019
Johannesburg; Thursday, 14 February 2019: "2019 marks the Group's 50th anniversary since it was founded in 1969. The Group's creditable results reported for the period are primarily attributable to the integrated business model which has evolved and adapted over the past five decades to withstand severe adversity, and to management's unrelenting customer-centric focus," CEO, Jan Potgieter comments.
ITALTILE FOCUSES ON COST LEADERSHIP AND OPERATIONAL IMPROVEMENTS REWARDS SHAREHOLDERS WITH SPECIAL DIVIDEND
22 August 2018
Johannesburg; Wednesday, 22 August 2018: "2018 marks the 30th anniversary of the Group's listing on the JSE, and the commencement of the company's 50th year of trading. Over these decades, Italtile has laid down a strong track record of continued improvement, consistency and resilience. Central to this achievement is our unique business model which has served as a major differentiator in the industry and a strong investment proposition for franchisees and shareholders," says CEO, Jan Potgieter.
ITALTILE FOCUSES ON INTERNAL GROWTH: IMPROVES TRADING PROFIT, MARGINS AND CASH AND INTEGRATES ACQUISITIONS
07 February 2018
Italtile Limited is a franchisor, retailer and manufacturer of tiles, sanitaryware, bathware, laminated and vinyl flooring and other related home-finishing products. The Group’s retail brands are CTM, Italtile Retail and TopT, represented through a total network of 174 stores, 19 of which are located in the rest of Africa. The brand offering targets homeowners across the LSM 4 to 10 categories. The retail operation is strategically supported by a vertically integrated supply chain (comprising key manufacturing and import operations) and an extensive property portfolio.
ITALTILE BUILDS CASH RESERVES AND INVESTS FOR GROWTH
16 August 2017
Johannesburg; Wednesday, 16 August 2017: "Under difficult trading conditions experienced in the reporting period, the Group's robust business model served it well. Our strategic retail brand portfolio, integrated supply chain, strong partnerships with entrepreneurial franchisees, property portfolio, and long-standing solid reputation, together with sustained investment continued to appeal to traditional customers as well as new, emerging homeowners," says CEO, Jan Potgieter.
ITALTILE FOCUSES ON INTERNAL GROWTH: IMPROVES TRADING PROFIT, MARGINS AND CASH AND INTEGRATES ACQUISITIONS
02 February 2017
Italtile Limited is a franchisor, retailer and manufacturer of tiles, sanitaryware, bathware, laminated and vinyl flooring and other related home-finishing products. The Group’s retail brands are CTM, Italtile Retail and TopT, represented through a total network of 174 stores, 19 of which are located in the rest of Africa. The brand offering targets homeowners across the LSM 4 to 10 categories. The retail operation is strategically supported by a vertically integrated supply chain (comprising key manufacturing and import operations) and an extensive property portfolio.
CHANGES TO THE BOARD OF DIRECTORS: RETIREMENT OF CHIEF EXECUTIVE OFFICER, NICK BOOTH AND APPOINTMENT OF SUCCESSOR, JAN POTGIETER
29 November 2016
Johannesburg; Tuesday, 29 November 2016: The Board of Italtile Ltd announced today that Mr Nick Booth, Chief Executive Officer (CEO) of the Group, has elected to take early retirement with effect from 28 February 2017. He will step down from his executive duties as from 1 December 2016 in order to facilitate an effective handover, and will be available to support the management team until his retirement date. Mr Jan Potgieter, currently Chief Operating Officer (COO), will be appointed CEO with effect from 1 December 2016. The position of COO will not be filled in the foreseeable future.
ITALTILE DELIVERS PLEASING ORGANIC GROWTH AND MEETS GROWING MARKET DEMAND WITH TWENTY NEW STORES
24 August 2016
Italtile Limited is a franchisor and retailer of local and imported tiles, sanitaryware, bathware, shower enclosures, laminated flooring and other related home-finishing products. The Group's retail operation comprises three brands: Italtile Retail, CTM and TopT, represented by a total network of 146 stores in Southern and East Africa. The brand offering targets homeowners across the LSM categories 4 to 10.
ITALTILE REPORTS CONTINUED CONSECUTIVE DOUBLE DIGIT GROWTH IN SUBDUED TRADING CONDITIONS
11 February 2016
Johannesburg; Thursday, 11 February 2016: Italtile Limited is a franchisor and retailer of local and imported tiles, sanitaryware, bathware, laminated flooring and other related home-finishing products. The Group's retail brands are CTM, Italtile Retail and Top T, represented through a total network of 133 stores, 16 of which are located in the rest of Africa. The Group's offering targets homeowners in the LSM 4 to 10 categories. The Group's Retail brand operation is strategically supported by a vertically integrated Supply Chain, investments in key suppliers, and an extensive property portfolio.
ITALTILE CAPITALISES ON OPPORTUNITIES - DELIVERS DOUBLE DIGIT GROWTH
27 August 2015
Johannesburg; Thursday, 27 August, 2015: Italtile Limited is a franchisor and retailer of local and imported tiles, sanitaryware, bathware, laminated flooring and other related home-finishing products. The Group's retail operation comprises three brands: Italtile Retail, CTM and TopT, represented by a total network of 126 stores in Southern and East Africa. The brand offering targets homeowners across the LSM categories 4 to 10. The Group's retail operation is strategically supported by a vertically integrated Supply Chain, investments in key suppliers, and an extensive property portfolio.
ITALTILE'S BUSINESS OPTIMISATION PROGRAMME BOOSTS PERFORMANCE
16 February 2015
Johannesburg; Monday, 16 February 2015: Italtile Ltd is a franchisor and retailer of local and imported tiles, sanitaryware, bathware, laminated flooring and related home-finishing products. The Group's retail brands are CTM, Italtile Retail and Top T, represented through a total network of 119 stores, 16 of which are located in the rest of Africa. The brand offering targets homeowners in the LSM 4 to 10 categories.
ITALTILE REPORTS DOUBLE-DIGIT ORGANIC GROWTH IN CHALLENGING MARKET
21 August 2014
Johannesburg; Thursday, 21 August 2014: Italtile Limited is a franchisor and retailer of local and imported tiles, sanitaryware, bathware, laminated flooring and other related home-finishing products in South Africa. The Group's national branded retail store network comprises 115 CTM, Italtile Retail and TopT stores and has appeal for homeowners in the LSM categories 4 to 10. The brands are strategically supported by a property investment portfolio and vertically integrated supply chain.
ITALTILE REPORTS CREDITABLE RESULTS DESPITE WEAKER TRADING CONDITIONS
13 February 2014
Johannesburg; Thursday, 13 February 2014: "In the six months ended 31 December 2013, the Group reported improved revenues across its retail operations and supply chain businesses, and gained market share across most of its merchandise categories," comments Brandon Wood, Italtile Ltd Chief Financial Officer.
ITALTILE DELIVERS ANOTHER CONSECUTIVE SET OF SOLID RESULTS
14 August 2013
Johannesburg; Wednesday, 14 August 2013: Italtile Ltd has reported solid results for the year ended 30 June 2013. The Group is the leading franchisor and retailer of local and imported tiles, sanitaryware, bathware, laminated flooring and other related home-finishing products in South Africa. The Group's national branded retail store network comprises 117 CTM, Italtile Retail and TopT stores and has appeal for homeowners in the LSM categories 3 to 10. The brands are supported by a property investment portfolio and vertically integrated supply chain.
ITALTILE DELIVERS DOUBLE-DIGIT GROWTH DESPITE SLOWER CONSUMER SPENDING
14 February 2013
Johannesburg; 14 February 2013: Italtile Limited is South Africa's leading franchisor and retailer of imported and local ceramic tiles, sanitaryware, bathroomware, laminate flooring, décor and other related products. The Group's brand portfolio consists of Italtile Retail, CTM and TopT. The local retail network comprises 90 stores nationwide; the Group also has 17 CTM stores in eight other African countries and eight CTM stores in Australia. The retail operation is supported by a strategic property portfolio and vertically integrated supply chain.
ITALTILE CAPITALISES ON GROWTH OPPORTUNITIES TO DELIVER IMPRESSIVE RESULTS
15 August 2012
Johannesburg, Wednesday, 15 August 2012: Italtile Limited, South Africa's leading franchisor and retailer of imported and local ceramic tiles, sanitaryware, bathware, laminate flooring and other related products has delivered another consecutive set of strong results in subdued trading conditions. The Group is represented via a national network of high profile branded retail outlets comprising Italtile, CTM and TopT, each focused on a specific market segment catering to homeowners across the income spectrum. The retail operation is supported by a vertically integrated supply chain.
