TFG, which also operates in Australia, said headline earnings per share rose to $0.57 in the year ended March 31, up from $0.55. Gross profit was up 6.7% to a record $1.62 billion.

TFG Africa's sales rose 7% in the second half after falling 0.1% in the first half. For the full year, sales rose by 3.7%.

Group online sales now contribute 12% of total sales, driven by the "continued success of our Bash platform, which has reached profitability two years ahead of schedule, a very likely unique achievement in the SA retail space," TFG Chief Executive Officer Anthony Thunström said.

TFG's total group revenue rose by 4.1% to $3.53 billion for the year, while retail sales increased by 3.6%, boosted by 8.7% sales growth in the second half after a 2% contraction in the first half, supported by store expansions across all territories and the acquisition of fashion and lifestyle retailer White Stuff in the United Kingdom.

In Britain, TFG's annual sales rose by 16.4% in pounds, following the acquisition, while TFG Australia continued to face difficult trading conditions, with sustained high inflation and interest rates impacting the consumer.

--Reuters--