Fashion retailer TFG posts 15.3% fall in half-year earnings

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South African fashion retailer The Foschini Group (TFG) reported a 15.3% fall in half-year earnings, impacted by increased levels of power cuts and higher interest rates.

The owner of the Foschini and Markham clothing brands said headline earnings per share for the six months ended September 30, fell to 393.6 cents from 464.6 cents in the same period last year.

It also declared an interim dividend of 150 cents per share, down from 170 cents last year.