THE Foschini Group, owners of clothing stores including Fabiani, Exact, Markhams and Total Sports, earned revenue of N$35,3 billion from its 4 083 retail stores globally for the year ending 31 March 2020, recently released financials show.
The company released its reviewed financials on the Johanessburg Stock Exchange this morning, showing retail revenue as of 31 March this year increased by 3,6% from last year.
Profit for the year stood at N$2,4 billion, down from N$2,6 billion recorded last year.
Pension funds such as the Government Institutions Pension Fund have shareholding in the South African headquartered conglomerate, which operates in 32 countries around the world.
The company said in light of the current subdued economic environment and the heightened levels of uncertainty, no final dividend would be declared at this year-end.
Last year a N$4,50 per share dividend was declared and paid out.
Preference shareholders will, however, receive a dividend of 6,5 cents a share to be declared from income reserves, payable on 21 September 2020.
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