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Home breadcru News breadcru Results breadcru South African firm HIL's revenue at R 1.8 bn in H1 FY23
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South African firm HIL's revenue at R 1.8 bn in H1 FY23

18 Aug '23
1 min read
Pic: HIL/Homechoice
Pic: HIL/Homechoice

Insights

  • South African company HomeChoice International reported H1 FY23 revenue of R 1.8 billion, with digital revenue making up 57 per cent of total.
  • Operating profit increased by 25 per cent to R 285 million, but retail sales fell 26 per cent to R 594 million.
  • Customer growth was 14 per cent, reaching 1.7 million, while EPS remained at 143.7 cents.
South Africa’s HomeChoice International plc (HIL), a Fintech-focused digital consumer financial solutions group, has reported steady revenue of South African rand (R) 1.8 billion (approximately 94.24 million) for the first half of fiscal 2023 (H1 FY23). Digital revenue, reflecting the company's emphasis on online platforms, now accounts for 57 per cent of the group's total revenue.

The operating profit of the group saw a significant boost, rising by 25 per cent to reach R 285 million, HIL said in a press release.

Retail sales were marked 26 per cent lower at R 594 million, indicating challenges in the traditional retail segment.

On the customer front, HIL saw robust growth, with the group's customers growing by 14 per cent to 1.7 million in the 6-month period. Furthermore, earnings per share (EPS) and headline earnings per share remained steady at 143.7 cents.

ALCHEMPro News Desk (DP)

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