Diluted HEPS increased to 1044.5cps (+1.1% y-y).
Turnover growth +5.1% y-y (+8.2% y-y excluding vaccinations), supported by Retail turnover growth of 7.9% y-y (+12.2% y-y excluding vaccinations).
Group GPM improved by 110bps to 22.4%.
Expense growth of +11.6% y-y to R8.5bn, with expense to sales increasing by 120bps to 20.5% in FY23.
OPM% decreased to 8.7% (FY22: 9.2%).
Dividend of 679cps.
Distribution turnover grew by 1.5% in FY23, as UPD’s performance was impacted by lost sales opportunities to Clicks and private hospitals during the systems implementation in 1H23, lower demand from independent pharmacies and shift of products to the bulk distribution channel.
Group successfully concluded three acquisitions totalling R320m which include Sorbet (194 outlets), M-Kem 24-hour pharmacy in the Western Cape, and 180 Degrees which is a pharmacy software development company.
