JD earnings take plunge

FURNITURE retailer JD Group yesterday posted an 85percent fall in headline earnings a share for the year ended August, which was within its forecast.

FURNITURE retailer JD Group yesterday posted an 85percent fall in headline earnings a share for the year ended August, which was within its forecast.

The group had been hit by a tax settlement and restructuring costs it embarked on about 18 months ago.

Chairman David Sussman said the restructuring was now complete.

"When we think back and consider what could have happened had it not been completed as well as it was, it could have been the end of JD.

"It was done in such an exemplary way, I'm so happy about it."

The group is now focused on a traditional retail business, and a separate financial services operation.

JD declared a dividend of 41c. - Adele Shevel

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