TFG's online sales volumes in South Africa, at 5.6 of total sales, is tracking alongside TFG Australia, whose online sales make up 7.7 of the total. However, both South Africa and Australia are laggards when compared to TFG London, the group's UK division, where online sales are nearing half of all sales.
"Following our continued investment in our e-commerce platform, Bash, online sales grew 47.9 and now contribute 5.6 to sales," TFG said in comments alongside its interim results for the six months to 30 September 2024, which were released on Friday. That's up from 3.8 in the same period a year ago.
In the UK, online sales contributed to 42 of total sales.
At group level, online sales grew by 9.9 to R2.8-billion, contributing 10.7 to total sales. TFG said much of this growth is attributable to the contribution from Bash in South Africa.
Overall, TFG reported a 5.6 decline in half-year profits on lower sales as inflation and high living costs continued to put pressure on consumer demand for discretionary items. Headline earnings per share fell to R3.71 from R3.93 the previous year. - 2024 NewsCentral Media
