PPC (PPC) 1H23 – Results Snapshot

Diluted HEPS -13cps down -131% y-y compared to 42cps LY. Diluted HEPS from continuing operations down -109% y-y to -5cps.
Revenue from continuing operations declined by -0.5% y-y to R5 103m.
GPM decreased from 22.0% to 16.7%.
OPM fell from 12.3% to 5.3%.
Expenses increased by 17.3% y-y to R579m, expense to sales ratio increased from 9.6% to 11.3%.
No dividend declared.
Gross debt down -31.6% y-y.