Diluted HEPS improved to -18cps (+18.2% y-y) but remains negative.
Revenue declined by 6.8% y-y to R6 031m from the restated FY21 revenue of R6 472m. Revenue decreased in each segment, however, Software/licence contracts provided the only positive growth.
GPM improved from 26.0% (restated) to 28.0% in the current year.
OPM increased from 0.9% to 1.7%.
Expenses well controlled, reducing by 0.9% y-y to R1 530m. Expense to sales ratio increased by 130bps to 26.4%.
No Interim dividend declared.
Gross debt reduced by 34% y-y aided by the Sybrin and Infosys sale, however, debt to equity continues to deteriorate.
Return on equity remains negative.
