Mustek : Summarised audited results for the year ended 30 June 2023 (1.5m)

SUMMARISED AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED 30 JUNE 2023

Salient features

Revenue

Headline earnings per share

Basic

earnings per share

up 13.7%

2023: R10.1 billion

2022: R8.91 billion

Dividend per share

up

5.0%

2023: 375.18 cents

2022: 357.38 cents

Net asset value per share

up 7.4%

2023: 377.05 cents

2022: 350.96 cents

up 1.3%

2023: 77.0 cents

2022: 76.00 cents

up 13.8%

2023: 2 724.36 cents

2022: 2 395.02 cents

Summarised audited consolidated financial results for the year ended 30 June 2023

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Condensed consolidated statement of comprehensive income

	Audited	Audited
	30 June	30 June
	2023	2022
	R000	R000
Revenue	10 126 197	8 909 567
Cost of sales	(8 713 918)	(7 636 886)
Gross profit	1 412 279	1 272 681
Foreign currency losses	(123 146)	(73 315)
Impairment losses on trade receivables	(11 092)	(28 647)
Distribution, administrative and other operating expenses	(823 251)	(763 799)
Profit from operations	454 790	406 920
Investment income	23 650	6 778
Finance costs	(174 532)	(76 751)
Loss from equity accounted investments	(12 799)	(1 572)
Other non-operating gains (losses)	1 555	(13 297)
Profit before tax	292 664	322 078
Income tax expense	(73 052)	(96 866)
Profit for the year	219 612	225 212
Other comprehensive income (loss)
Exchange differences on translation of foreign operations	(531)	(1 714)
Exchange differences recycled to profit or loss on liquidation of
foreign subsidiary	2 150	-
Other comprehensive income (loss) for the year, net of tax	1 619	(1 714)
Total comprehensive income for the year	221 231	223 498
Profit attributable to:
Owners of the parent	219 612	219 970
Non-controlling interest	-	5 242
	219 612	225 212
Total comprehensive income attributable to:
Owners of the parent	221 231	218 256
Non-controlling interest	-	5 242
	221 231	223 498
Earnings per share:
Basic earnings per ordinary share (cents)	377.05	350.96
Diluted earnings per ordinary share (cents)	377.05	350.96

2 Summarised audited consolidated financial results for the year ended 30 June 2023

Condensed consolidated statement of financial position

	Audited		Audited
	30 June		30 June
	2023	2022
	R000		R000
ASSETS
Non-current assets
Property, plant and equipment	258 978	191 991
Investment property	9 785	10 412
Right-of-use assets	62 889	48 859
Goodwill	46 550	46 550
Intangible assets	124 862	104 006
Investments in associates	116 984	122 953
Other loans	12 915	22 810
Prepayments	-	21 228
Deferred tax assets	40 735	45 441
Current assets	673 698		614 250
Loan to associate	-	2 092
Inventories	2 790 335	2 480 187
Trade and other receivables	1 856 627	1 475 348
Contract assets	34 869	3 398
Foreign currency assets	17 658	48 965
Current tax receivable	936	10 923
Cash and cash equivalents	349 258	375 323
	5 049 683		4 396 236
Total assets	5 723 381		5 010 486
EQUITY AND LIABILITIES
Capital and reserves
Ordinary stated capital	-		-
Retained earnings	1 562 726	1 409 811
Foreign currency translation reserve	4 871	3 252
Equity attributable to owners of the parent	1 567 597		1 413 063
Non-controlling interest	-		-
Total equity	1 567 597		1 413 063
Non-current liabilities
Borrowings and other liabilities	34 010	48 026
Contract liabilities	22 765	24 101
Deferred tax liabilities	5 609	4 743
Lease liabilities	38 230	29 307
Current liabilities	100 614		106 177
Trade and other payables	3 552 478	3 213 525
Borrowings and other liabilities	2 274	2 410
Foreign currency liabilities	14 923	327
Lease liabilities	29 806	22 988
Contract liabilities	63 654	28 050
Current tax payable	10 557	1 681
Bank overdrafts	381 478	222 265
	4 055 170		3 491 246
Total liabilities	4 155 784		3 597 423
Total equity and liabilities	5 723 381		5 010 486

Summarised audited consolidated financial results for the year ended 30 June 2023

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