Interesting numbers on ITE at R8.90, basically where it was pre-covid in real terms. Property market still…by @nico_the_analyst on $ITE

Interesting numbers on ITE at R8.90, basically where it was pre-covid in real terms. Property market still flat but at least load-shedding hasn't killed the DIY renovation thing entirely, fwiw. Management's been cutting costs which helps margin, but till we see actual volume growth in store footprint it's just treading water imo. Worth noting the sanitaryware side is a bit more resilient than pure tiles anyway.