CMH Group (CMH) FY24 Results Snapshot

Diluted HEPS 532cps (-11.1% y-y).
Turnover increased by 3.3% y-y to R12 840m.
GPM increased by 40bps to 19.7%.
Expenses increased by 7.7% y-y while expense-to-sales increased by 50bps to 13.8%.
OPM decreased by 10bps to 6.1%.
Dividend of 475cps.
Cash generated from operating activities up 32.7% y-y to R720m.
Group new vehicle sales during the financial year were down 1.9% and used vehicle sales were down 3.8%. The year was characterised by continued gross overstocking at manufacturer level, with pressure being placed on dealers to increase sales and inventory levels.