Business

CA Sales revenue goes up

C.A Sales
 
C.A Sales

CA Sales announced that earnings per share will reflect an increase of up to 111 percent during six months period ended June 2023. In its full year ended December 2022, the Group reported 18.2 percent increase in revenue to R9,5 billion driven largely by inflation and volume increases as well as the on boarding of new clients to the groups portfolio. Beginning of the six months period, inflation in South Africa declined to 6,9 percent down from 7.2 percent in December while in Botswana it dropped by 3.1 percentage points to 9.3 percent.

The group stated that its headline earnings per share (HEPS) will be between 35.69 cents and 37.19 cents, representing an increase of between 19 percent and 24 percent compared to the HEPS of 29.99 cents while EPS will be between 62.46 cents and 63.98 cents, representing an increase of between 106 percent and 111 percent compared to 30.32 cents reported in the same period last year. “HEPS increased due to good organic growth from all the operations as well as the successful on-boarding of new clients.

EPS increased by a larger margin than HEPS mainly as a result of a gain on bargain purchase entry of R123.6 million, arising from the January 2023 acquisition of the T&C Group in Namibia, which was excluded from headline earnings in the reporting period,” states the company. Last year, the group also acquired an additional in-store execution business based in South Africa, as part of its channel broadening strategy.

The group also increased its shareholding in Promexs Limited in Zambia and Smithshine Enterprises Proprietary Limited in Botswana for a combined cash amount of R8.2 million. It further increased its shareholding to 100 percent in Logico Unlimited Proprietary Limited in Eswatini, by issuing equity to the value of R52.3 million.

In his comments in the Groups full year ended December 2022, CA Sales Chief Executive Officer, Duncan Lewis stated that the group will continue its expansion of services for new and existing clients and will continue to offer bespoke solutions to brand owners across the region. “A focus will be on channel broadening across existing businesses within existing geographies. Where feasible, the group will also grow its client and customer networks and make value-adding acquisitions.”