Diluted HEPS 353.7cps (-25.1% y-y).
Turnover increased by 4.6% y-y to R64.90bn, FY23 restated to R62.03bn. The weakening of the average Rand exchange rate and the acquisitions of AMCO in the United Kingdom and Right Side Up in South Africa, contributed to the increase.
Expenses increased by 5.3% y-y with expense-to-sales increasing from 93.5% to 94.2%.
OPM decreased by 70bps to 5.8%, mainly due to weaker performances in Supply Chain Europe and Dealerships UK.
Dividend of 60cps (FY23: 80cps).
Cash generated from operating activities declined from R3 153m to -R978m. A working capital outflow of R7.86bn was recorded (FY23: R4.42bn), reflecting a R6.94bn net increase in lease portfolio assets within the Fleet Division.
Net finance costs increased by 20.2% to R1.21bn (FY23: R1.0bn), mainly due to increased interest rates, higher trade receivables and the funding of acquisitions.
