25 June 2004
	SA's Top 20 Companies 20 EDCON Total score: 53,3 Historic score: 22 FM's score: 74

After superlative performances in the past two years, the big question is "where to next?" There's no way Edcon can repeat last year's 103% earnings growth, but it's likely that growth will still be well into double digits. That will come from continued improvements from stalwarts Edgars and Jet, combined with a turnaround at CNA. Much of this has to do with the group's merchandising system, Retek. Stock turns are forecast to improve even further. The price should surpass its record high of R170 in calendar 2004, or at worst by next year.