Highlights

MAIDEN DIVIDEND – 12 cents per share
11%		10%
increase in revenue to R17,03 billion		increase in gross profit to R1,17 billion
21%		6%
increase in EBITDA to R689 million		decrease in core earnings per share to 52,34 cents
R516 million		Growth in both South African and International distribution
cash flows from operating activities

Commentary

INTRODUCTION

In maintaining its position as the major distributor of prepaid electronic tokens of value in South Africa, the group once again delivered a robust performance in its trading operations. This achievement, together with contributions by the international segment, resulted in growth in EBITDA of 21%. Cash flows generated from trading operations equated to R516 million.

An improved trading performance by Oxigen India resulted in the decline of the group’s share of losses in this associate company from R26 million to R7 million.

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