Truworths International Ltd Reports Strong Financial Performance and Increased Dividend

  • Truworths International Ltd reports strong financial performance with an 8.5% increase in merchandise sales to R11.8 billion.
  • Shareholders to receive an increased interim dividend of 332 cents per share, up by 3.8% from the previous year.
  • Tax implications noted as dividends will be paid net of a 20% withholding tax, with charitable contributions for small dividends.
Published by
Lethabo Ntsoane

Truworths International Ltd has announced its unaudited group interim results for the 26 weeks ended 31 December 2023, showcasing robust financial growth and an enhanced dividend payout to shareholders.

Financial Highlights

The company’s interim results reveal a commendable performance across various key metrics:

MetricAmountIncrease (%)
Sale of merchandiseR11.8 billion+8.5%
Retail salesR12.2 billion+8.2%
Gross profit margin53.6%
Operating margin24.5%
Earnings per share531.5 cents+4.3%
Headline earnings per share512.6 cents+3.6%
Diluted headline earnings per share504.8 cents+3.6%
Cash generated from operationsR2.7 billion+58.8%
Net asset value per shareUp by 19.1%

Dividend Declaration

In line with the impressive financial performance, Truworths International Ltd has declared an interim gross cash dividend of 332 South African cents per ordinary share. This represents a 3.8% increase from the previous year’s dividend.

Important Dates for Shareholders

  • Record Date: Shareholders reflected in the company’s register on Friday, 22 March 2024, will be eligible to receive the dividend.
  • Last Day to Trade (Cum Dividend)
    : Monday, 18 March 2024.
  • Trading Ex-Dividend: Commencing Tuesday, 19 March 2024.
  • Dividend Payment Date: Monday, 25 March 2024.

Conclusion

The company’s robust financial performance and increased dividend payout reflect its resilience and strategic management amidst challenging market conditions. Truworths International Ltd continues to deliver value to its shareholders while maintaining its position as a leading fashion retailer in South Africa and beyond.

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Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo