Subscribe to industry newsletters

Search jobs

Holdsport runs into heavy weather

Holdsport's share price closed 3% lower on Friday after the group reported difficult trading conditions in full-year results.
Holdsport runs into heavy weatherThe group, which owns Sportsmans Warehouse, said it experienced difficult trading conditions, with sales rising only 5.8% to R1.82bn. Its share price closed at R61.

"Holdsport continues to face low levels of consumer confidence, weak economic growth and a sporting goods industry which is intensely competitive," CEO Kevin Hodgson said.

Holdsport comprises retail divisions Sportsmans Warehouse and Outdoor Warehouse and a wholesale division that includes the First Ascent, Capestorm, Second Skins and African Nature brands.

Core headline earnings excluding the effect of foreign exchange adjustments were 522.3c per share, a decrease of 2.3% from the 534.5c for the previous financial year.

"In evaluating this performance shareholders should take into account that the aggregate foreign exchange adjustment during the current year was a loss of R19.5m, compared with an aggregate profit of R8.4m during the prior year," the company said.

Holdsport's operating profit decreased 11.4% to R273.7m. Core headline earnings amounted to 489c per share, a 10.9% decrease on the previous year.

Like-for-like retail sales grew 1.8%, while the retail divisions experienced price inflation of approximately 8.1% for the year. The time-weighted trading area increased 3.4% relative to the prior year.

The Sportsmans Warehouse division traded out of 39 stores, having opened new outlets in Mall of Africa and Menlyn Park Shopping Centre. Like-for-like sales increased 2.1%.

The Outdoor Warehouse division comprised 24 stores and like-for-like sales increased 0.6%.

Holdsport's wholesale division's external sales were 54.9% higher than they were in the previous financial year.


I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to:

Let's do Biz