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Karooooo Reports Q1 2023 Revenue ZAR801M

Despite global economic headwinds, specifically higher energy and raw material prices and electronic component shortages, we maintained the momentum in our top-line growth. Total revenue was up 28% to ZAR801

Benzinga · 07/27/2022 16:51

Despite global economic headwinds, specifically higher energy and raw material prices and electronic component shortages, we maintained the momentum in our top-line growth. Total revenue was up 28% to ZAR801 million (Q1 2022: ZAR626 million). Revenue growth coupled with ongoing operating efficiencies resulted in profit for the period increasing 44% to ZAR156 million (Q1 2022: ZAR108 million) and earnings per share 42% to ZAR4.96 million (Q1 2022: ZAR3.49). Strong free cash flow generation bolstered our robust cash position, notwithstanding our investment in future growth. A net cash and cash equivalents balance of ZAR854 million at the end of Q1 2023 (Q4 2022: ZAR718 million; Q1 2022: ZAR 554 million) supported an interim dividend of 60 U.S. cents per ordinary share, declared on April 27, 2022.