Italtile profit dips slightly amid increased rivalry in sector

JSE-listed tile manufacturer Italtile says its financial results for the year ended June 30 were impacted on by a significant change in the structure of the competitive landscape, with numerous new competitors having emerged. The group posted a drop in trading profit from R2.3-billion in the prior financial year to R2.1-billion in the reporting year, while earnings a share decreased from 132.6c apiece in the prior year to 122.1c apiece in the year under review.