AVI Ltd (AVI) Results Snapshot 1H23

Diluted HEPS 318.9cps (+0.6% y-y)
Turnover growth +7.2% y-y.
GPM increased by 20bps to 39.8%
Direct operating costs of loadshedding of R22m. Significant indirect costs.
OPM% down by 90bps to 19.7%.
I&J impacted by higher fuel costs, reduced quota and Chinese lockdowns affecting sales of abalone.
Selling price increases in all categories to offset rising input costs.
Price and volume gains for Footwear and apparel segment.
Interim dividend of 172cps (1H22: 170cps).