Diluted HEPS 1217.9cps (-36.7% y-y).
Revenue contracted by -4.4% y-y to R10.7bn, mainly due to continued struggles in the Group’s P&L Hardware business (-10.4% y-y).
GPM down to 25.4 from 26.3%.
Expense growth +10.1% y-y with expense to sales ratio up from 20.3% to 23.4%.
OPM down to 2.2% from 7.9% LY.
Dividend of 732.0cps (LY: 1 264.0cps)
Net cash fell to R1.5bn (LY: R1.9bn), mainly due to share repurchases done during FY23.
There was an Odd-lot offer where 89 164 shares were repurchased and have now been cancelled. Average share price during the year was R193.23.
Sales of major product ranges such as cement and timber were severely impacted by adverse trading conditions during the financial year.
P&L Hardware’s goodwill was impaired for the value of R155.9m.
