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Unaudited Results For The Six Months Ended 30 June 2023
CA SALES HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration number: 2011/143100/06
Registered as an external company in the Republic of Botswana
Botswana registration number: BW00001085331
JSE Limited (“JSE”) share code: CAA
Botswana Stock Exchange (“BSE”) share code: CAS-EQO
ISIN: ZAE400000036
(“CA&S” or “the Company” or “the group”)
UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2023
1. NATURE OF BUSINESS
CA&S is the holding entity of a collective of well-established fast-moving consumer goods
(“FMCG”) retail solution businesses, operating throughout Southern Africa, offering
comprehensive route-to-market services to prominent multinational brand owners, as well
as leading national brand owners and manufacturers.
In collaboration with its clients, CA&S transcends boundaries, geographical and otherwise,
to propel brands into diverse and expansive retail channels across Southern African
markets. The group’s primary commitment lies in solving trade impediments, amplifying
the presence of categories and brands on retail shelves, and safeguarding and growing
clients’ market shares. The group’s array of services includes warehousing and
distribution, retail execution and advisory, retail support, training, and technology and data-
driven solutions.
CA&S fosters strategic partnerships, empowering its clients in navigating the complexity
of the retail industry in these markets.
2. SALIENT FEATURES
Revenue growth was driven by sales volume increases, inflation, acquisitions, expansion
into new regions as well as the on-boarding of new clients to the group’s portfolio. The
positive top line growth and the gain on bargain purchase contributed to the increase in
operating profit for the group.
Revenue increased by 22.5% to R5.2 billion, from R4.3 billion in the prior corresponding
period.
Operating profit increased by 75.5% to R387.0 million, from R220.6 million in the prior
corresponding period.
Headline earnings per share (“HEPS”) increased by 21.5% to 36.5 cents per share, from
30.0 cents per share in the prior corresponding period.
Earnings per share (“EPS”) increased by 108.9% to 63.4 cents per share, from 30.3 cents
per share in the prior corresponding period.
EPS increased by a larger margin than HEPS mainly as a result of a gain on bargain
purchase entry of R123.6 million, arising from the January 2023 acquisitions of the T&C
Group in Namibia, which was excluded from headline earnings in the reporting period.
Total assets increased by 22.4% to R4.5 billion due to the increase in fixed and intangible
assets as a result of business combinations as well as working capital from increased
revenue.
No dividend has been declared for the six months ended 30 June 2023 (30 June 2022:
nil), as it is the Company’s policy to only declare dividends once a year, after its year-end.
3. OUTLOOK
Despite the challenging global economic landscape, marked by adverse conditions and
persistent inflation, CA&S remains steadfast in its resilience and strategic positioning. With
a robust balance sheet, a widespread geographical footprint across Southern Africa, as
well as a portfolio marked by diversification, the group is poised to deliver favourable
results throughout the remainder of the current financial year. Its growth strategy of
expanding its services to existing and new clients, channel broadening, expansion into
new geographies, coupled with value-adding acquisitions, will ensure the group remains
firmly on course to attain its growth aspirations.
4. SHORT-FORM ANNOUNCEMENT
This short-form announcement is the responsibility of the directors of the Company. It
contains only a summary of the information in the full announcement (“Full
Announcement”) and does not contain full or complete details. The Full Announcement
can be found at:
https://senspdf.jse.co.za/documents/2023/JSE/ISSE/CAAE/CAAHY23.pdf
A copy of the Full Announcement is also available for viewing on the Company’s website
at https://casholdings.co.za/investor-relations/?Financial%20Results/ or may be
requested in person, at the Company’s registered office or the office of the Company’s
JSE sponsor, PSG Capital, at no charge, during office hours.
Any investment decisions by investors and/or shareholders should be based on
consideration of the Full Announcement, as a whole.
These interim results have not been audited, reviewed or reported on by the Company’s
auditors.
Centurion
28 August 2023
JSE Sponsor
PSG Capital
BSE Sponsoring Broker
Imara Capital Securities
Date: 28-08-2023 09:00:00
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