Act hits profits

Furniture and electrical appliance retail chain Lewis saw its profit from credit sales dive because of new rules introduced by the National Credit Act. The Act forbidding levying finance charges on insurance premiums saw Lewis' finance profit drop 12percent to R180million, but its insurance profit jumped 39percent to R107million thanks to contracts dating back to the consumer boom. This helped the group maintain its headline earnings for the six months ended in September at 305,7c a share, nearly the same level as last year's 308,5c. - Robert Laing

Furniture and electrical appliance retail chain Lewis saw its profit from credit sales dive because of new rules introduced by the National Credit Act. The Act forbidding levying finance charges on insurance premiums saw Lewis' finance profit drop 12percent to R180million, but its insurance profit jumped 39percent to R107million thanks to contracts dating back to the consumer boom. This helped the group maintain its headline earnings for the six months ended in September at 305,7c a share, nearly the same level as last year's 308,5c. - Robert Laing

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