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Italtile reports 15% growth in profit despite slower spending

Despite consumer spending slowing appreciably during the six months ended December 2012, weighed down by increased utility costs and higher fuel and food prices, ceramic product distributor Italtile reported a 15% rise in its trading profit to R312-million. The company stated that this reflected tight cost control and, after several consecutive years of absorbing pricing pressure and sacrificing margins in the context of substantially higher input costs, modest inflation-linked price increases implemented in the retail network.

Authors: Dubai Engineering Jobs Admin

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