HWW on Wednesday Posted a 43.1% Drop in Diluted Headline Earnings Per Share

Building materials retailer Hardware Warehouse (HWW) on Wednesday posted a 43.1% drop in diluted headline earnings per share from continuing operations to 4.83 cents in the six months ended December, from the 8.49 cents a year earlier. Profit from continuing operations slid 43.6% to R3.33 million, from R5.914 million before. Hardware Warehouse business unit's revenue from continuing operations increased by 21.3% but the gross profit margin slipped to 19.03% from 19.28% in the comparative six month period of the previous year, due to the competitive environment of the industry. Looking ahead, the group said it would continue to consider strategic alliances on a value-add basis to give growth prospects impetus, in addition to increasing the benefits of greater buying power. Source: iol.co.za