Diluted HEPS from continuing ops 58cps (+263% y-y).
Revenue grew by 36.5% y-y to R29 869m, driven by strong growth from the ERI segment (+52.1% y-y).
GPM decreased from 11.6% to 9.7%.
OPM fell by 10bps to 2.4%.
Expenses well controlled, expense to sale ratio reduced from 11.6% LY to 8.8% TY.
No dividend declared due to significant order book prospects.
Gross debt +14.8% y-y
Order book value of R59.7bn, short of managements forecast of c. R80bn at FY22.
Cash from operating activities declined from R2 422m to -R175m.
A sale and purchase agreement (SPA) has been reached for the Middle East operations and is awaiting regulatory approval. The SPA longstop date has been extended to 15 September 2022.
