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TFG reports profit fall as power cuts lead to R1.5bn fewer sales

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The clothing manufacturer and retailer says it lost about 41 years in trading hours to load-shedding in its 2023 financial year

Clothing manufacturer and retailer TFG more than halved its final dividend as load-shedding cut the retail turnover of its largest segment by R1.5bn and it lost about 41 years in trading hours to power cuts, according to its latest annual results.

The company, valued at R30bn on the JSE, along with many other retailers, is spending more on diesel to run generators or installing alternative power sources to keep their lights on amid SA’s energy crisis and the faltering state-owned power utility Eskom...

 

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