Diluted HEPS 397cps (-25.4% y-y).
Turnover increased by 3.2% y-y to R13 252m.
GPM decreased from 19.7% to 18.6%.
Expenses increased by 3.9% y-y while expense-to-sales increased marginally from 13.8% to 13.9%.
OPM decreased by 130bps to 4.8%.
Dividend of 273cps.
Cash generated from operating activities up 6.5% y-y to R767m.
The Proton import and distribution operation has continued to be challenging and costly. Current inventory will be sold during the first half of the coming year, and thereafter, CMH and the manufacturer will decide on the way forward.
MPD aftermarket parts network generated a 22% y-y profit improvement.
First Car Rental has terminated its Sixt agency because the proposed new terms and conditions became too onerous. The lost revenue has been replaced by a greater involvement with foreign agents who specialise in the luxury vehicle market, popular in Europe.
