Karooooo (KRO) 1H23 – Results Snapshot

Diluted HEPS 981cps, up 33.5% y-y.
Revenue growth +29.2% y-y, aided by strong subscriber growth of 13.6% y-y.
GPM decreased to 66.2% from 69.7% last year.
OPM declined by 70 bps to 26.2%.
Expenses increased by 21% y-y, expense to sales decreased by 270bps to 40.2%.
10 053cps interim dividend.
Net cash improved by 50.6% y-y to R1bn.