Italtile reinstates R800m worth of expansion projects
By Sandile Mchunu
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DURBAN - ITALTILE – whose brands include CTM, Italtile Retail, TopT and U-Light – has reinstated R800 million worth of expansion capital projects that were temporarily deferred due to the lockdown and trading restrictions in the first half of the 2020 financial year.
As a result, the group said yesterday it had incurred R359m of capital expenditure in the six months to the end of December, up from R340m compared with last year.
Chief executive Jan Potgieter said the group would continue to roll out capital expenditure projects, with R450m committed for the second half of the 2021 financial year, and would open new stores where proven demand existed.