Furnmart cautious as profits take 50% dip
Monday, November 07, 2022 | 310 Views |
Furnmart PIC: PHATSIMO KAPENG
The group bemoaned the harsh trading environment noting that their sales growth measured against the high comparable base of the prior year has been sluggish.
Commenting on the results, Tobias Mynhardt said sales growth recorded in the prior year was strong, after the lifting of the hard lockdown periods. “Gross profit margins remain under pressure and have declined compared to the prior period.
When claims of such gravity are made, especially by a sitting Assistant Minister they cannot be brushed aside, delayed, or treated as routine political noise. Even the Ombudsman has confirmed receipt of a report from a political party and a review of these complaints is now underway. That is a necessary first step. But it is only the beginning. The seriousness of the allegations demands urgency, transparency and clarity. The public is entitled to...