JSE-listed Italtile says the trading conditions for the five months to November 30 were challenging, taking account of the ongoing effects of the Covid-19 pandemic, including severe global supply chain disruptions; civil unrest in July; notable price inflation of imported raw materials and finished products; and the adverse impact of load-shedding, specifically on the group’s manufacturing operations. Moreover, competition across the industry intensified as stock availability improved and beleaguered consumers reduced or deferred spend in the context of low wage inflation, high levels of debt and escalating unemployment, it notes.
