entiment for perennially profitable household appliance distributor Nu-World Holdings has gone on the fritz after the release of poor interim numbers, with the market having little sympathy for tough trading conditions under persistent power outages in the key South African market.
Interim earnings were more than halved to R33m, or 155c a share, with the core South African operations reporting a steep decline in profit from R47m in the same period last year to just R15m. The international operations — which span Australia, Brazil, the United Arab Emirates, Hong Kong and Lesotho — fared much better, with profits dipping slightly to R18.2m from R20.8m previously...
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