May 28, 2015 / 12:10 PM / 2 years ago

BRIEF-Foschini Group FY HEPS up 9.7 pct to 897.9 cents

May 28 (Reuters) - Foschini Group Ltd

* Headline earnings per share from continuing operations (excluding once-off acquisition costs) up 9.7 pct to 897.9 cents

* However, we anticipate continuing to benefit from good cash sales growth.

* In line with strategy for long-term growth, we anticipate opening in excess of 160 new stores in Sub-saharan Africa in year ahead which will increase trading space by about 6 pct

* Group turnover up 13.6 pct to r16,1 billion (excluding phase eight: 10.8 pct)

* Final distribution of scrip with a cash dividend alternative of 325 cents per share - a 10.9 pct increase

* Strong cash sales growth of 19.6 pct now representing 45.6 pct of TFG turnover (including 2 months of phase eight: 46.9 pct)

* We are concerned around potential ongoing impact that load shedding is likely to have on our business

* Expect credit cycle and south african economic environment to remain challenging Source text for Eikon: Further company coverage:

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