SA online retailer, HomeChoice Holdings, says it aims to list on the Johannesburg stock\u00a0 exchange (JSE) as it eyes the African market.<\/p>\n
HomeChoice, which uses call centres, catalogs, and the internet to sell homeware merchandise and financial services to <\/span>South Africa’s expanding middle class, is expected to start trading on December 4.<\/p>\n The company does not plan to raise funds at the listing, however, chief executive officer Shirley Maltz said access to public markets would provide an additional source of funding.<\/p>\n In September, the group reported an increase in revenue by 13% to R861 million in the six months to June 2014 and reported headline earnings per share growth of 11.6% to 157.1 cents.<\/p>\n An interim dividend of 61 cents per share was declared, an increase of 39% on the previous interim dividend.<\/p>\n HomeChoice gained 81,000 new customers in the period, increasing its customer base to 557,000.<\/p>\n “Growing demand from customers to shop on the Internet and via mobile phones saw online sales increase by 34%, with e-commerce now accounting for 9.3% of retail sales. Our focus on increasing sales outside South Africa has driven a 36.5% increase in revenue, with Africa now representing 11.8% of retail sales,” CEO, Maltz said.<\/p>\n HomeChoice also operates in Botswana, Lesotho, Namibia and Swaziland, and more recently expanded into Zambia.<\/p>\n The group completed a new centralised distribution centre, at a cost of R150 million, in January 2014. The new facility increased total storage capacity from 80,000 m\u00b3 to 200,000 m\u00b3.<\/p>\n The group has a telecoms subsidiary, FoneChoice<\/a>, which sells laptop computers, tablets and mobile smartphones on credit to HomeChoice customers on terms of 24 and 36 months.<\/p>\n HomeChoice reported the following operational\u00a0 highlights for 2013:<\/p>\n Reporting with Reuters<\/em><\/p>\n Takealot cash boost good for SA e-commerce<\/a><\/strong><\/p>\n The best e-commerce site in South Africa<\/a><\/strong><\/p>\n\n
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