Diluted HEPS of 622.0cps (+4.7% y-y).
Revenue increased by 4.8% y-y to R14 446m.
OPM increased by 20bps to 10.6%.
Expenses increased by 4.6% y-y, while expenses-to-sales decreased from 89.6% to 89.4%.
Dividend of 366.0cps (FY23: 332.0cps).
Cash generated from operating activities decreased from R1 373m to R1 323m.
Gross debt increased from R1.15bn in FY23 to R1.30bn in FY24, and net cash increased from R1.17bn in FY23 to R1.83bn in FY24.
Highlights included the strong growth in the Defence Cluster, increased Zambian power cable performance, the successful integration of IQbusiness and the strong resilience of the Group’s businesses serving the South African market.
The lowlights were the battery storage business’s performance, where commoditisation, over supply and reduced loadshedding all resulted in a significant decrease in the residential and small commercial battery storage market, and an operational issue impacting production and inventory at the Group’s printed circuit board manufacturer, which has been successfully addressed.
