Diluted HEPS 147.4cps (-8.0% y-y), but impairment of R6.6bn resulting in earnings per share of -34.6cps.
Revenue from continuing operations increased by +7.7% y-y to R87.4bn in FY23.
GPM up 20bps to 35.5% in FY23.
Expense growth +47.5% y-y, with expense-to-sales ratio up from 24.7% in FY22 to 33.8% in FY23.
OPM decreased to 3.1% (FY22: 13.0%).
Dividend of 48.1cps (FY22: 55.2cps).
Gross debt stable at R11.5bn, with Net Cash falling to R3.9bn (FY22: R4.3bn).
PPH’s trading hours lost due to loadshedding more than doubled to 845 000 hours, with diesel costs up 69% y-y to R141m.
Due to increased difficulty of trading in Nigeria due to adverse macroeconomic conditions, PPH sold its operations in Nigeria and is now classified as discontinued operations.
Debtors’ cost increased by 57% y-y to R1.7bn, due to increased credit granting and recognition of expected credit loss provisions. Bad debts increased to R1 232m (FY22: R990m).
PPH repurchased and cancelled 27.8m ordinary shares at a cost of R551m.
