SOUTH AFRICA: LA Group Enjoys Profit Jump
Branded apparel, footwear and corporate clothing distributor LA Group has posted jumps in full-year net profit and turnover.
The company said in statement 2001 turnover climbed 20 per cent and net profit 12 per cent, compared to the previous year.
"Although the year started off slowly in the first six months, we had an exceptional second half as a result of higher consumer demand, new corporate clothing contracts and the establishment of a joint US export venture," said managing director Showkat Mukadam.
He added: "Following the success of the Polo brand in South Africa we are investigating the opportunities for expanding the brand into sub-Saharan Africa, for which the Group owns the rights."
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