Edgars HY2023 Financial Results

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October 13, 2022

KEY HIGHLIGHTS

  • Functional currency: RTGS$.
  • Sales growth: Group 38.6% (Edgars 55%, Jet 28%).
  • Group PAT increased by 540% to $ 1.2billion.
  • 84.1% of the debtors book in current status.
  • Negative operating cash flow: $ 596m.
  • Stockholding increased by 35% on prior year. Weeks cover 21.8 weeks for Edgars Chain and 18.68 weeks for Jet Chain.
  • Manufacturing: Turnover of $309.8m up 237% on prior year. Unit sales decreased by 7% on prior year due to declining demand for PPE.
  • Microfinance update: Revenue $295m, Profit $ 171m and loans to customers $253m.
  • Gearing of 0.14 from 0.21 last year.
  • Foreign liabilities of USD262k to be serviced from existing resources.
  • Three new stores (Jet First Street, Gutu, Avondale) in the reporting period . Edgars Borrowdale relocated to a bigger store.

Edgars Stores HY2022 Financial Results Presentation