Tedco has mixed fortunes

Diversified retail group Tedco had mixed fortunes. There was a reduction in unit sales of furniture and electrical items while the clothing market remained buoyant.

The company, which owns among others, CW Stores and Radio Limited, says it has implemented strategies to expand its clothing business.

According to its results for the year ending September, sales improved by 109.4 percent from $1.9 billion to $4.1 billion while net profit more than doubled from $462.6 million to $962.1 million.

The company says profitability of the manufacturing division was significantly enhanced through export sales.

It is now looking at expanding retail clothing and furniture exports.

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