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TRUWORTHS INTERNATIONAL LIMITED - Unaudited group interim results and cash dividend declaration for the 26 weeks ended 29 December 2024

Release Date: 27/02/2025 15:30
Code(s): TRU     PDF:  
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Unaudited group interim results and cash dividend declaration for the 26 weeks ended 29 December 2024

TRUWROTHS INTERNATIONAL LTD
(Incorporated in the Republic of South Africa)
(Registration number: 1944/017491/06)
(Tax reference number: 9875/145/71/7)
JSE and A2X code: TRU
NSX code: TRW
ISIN: ZAE000028296
LEI: 37890099AFD770037522

UNAUDITED GROUP INTERIM RESULTS AND CASH DIVIDEND DECLARATION FOR THE 26 WEEKS ENDED 29 DECEMBER 2024

KEY FEATURES
- Sale of merchandise                              up 2.5% to R12.1 billion  
- Retail sales                                     up 2.4% to R12.5 billion                                   
- Gross profit margin                              51.8% (Dec 2023: 53.6%)                   
- Operating margin                                 22.5% (Dec 2023: 24.5%)
- Earnings per share                               down 8.1% to 488.6 cents
- Headline earnings per share                      down 4.6% to 489.2 cents
- Diluted headline earnings per share              down 4.3% to 483.2 cents
- Cash generated from operations                   up to R3.3 billion* (Dec 2023: R2.7 billion)
- Net asset value per share                        up 21.9%
- Net cash                                         up to R1.2 billion* (Dec 2023: net debt R124 million)
- Interim cash dividend per share                  down 4.5% to 317 cents
* Impacted by month-end payments falling after the period-end.

Truworths International Ltd (the company) is an investment holding and management company listed on the 
stock exchanges operated by the JSE Ltd (JSE) and A2X (Pty) Ltd (A2X), as well as the Namibian Stock Exchange (NSX).
Its principal trading entities, Truworths Ltd and Office Holdings Ltd, are engaged either directly or indirectly through
subsidiaries, concessions, agencies or wholesale partnerships, in the cash and account retailing of fashion clothing,
footwear, homeware and related merchandise. The company and its subsidiaries (the Group) operate primarily in 
South Africa and the United Kingdom (UK), and have a presence in the Republic of Ireland and other sub-Saharan African
countries.

This announcement is the responsibility of the company's directors. As the information in this announcement does not
provide all of the details, any investment decisions in relation to the company's shares should be based on consideration 
of the full unaudited Group interim results which are accessible via the JSE cloudlink at
https://senspdf.jse.co.za/documents/2025/jse/isse/tru/Interim25.pdf and on the company's website at 
www.truworths.co.za/reports.

INTERIM CASH DIVIDEND
The directors of the company have resolved to declare an interim gross cash dividend from retained earnings in respect
of the 26-week period ended 29 December 2024 in the amount of 317 South African cents (Dec 2023: 332 South African cents) 
per ordinary share to shareholders reflected in the company's register on the record date, being Thursday, 20 March 2025.

The last day to trade in the company's shares cum dividend is Monday, 17 March 2025. Consequently, no 
dematerialization or rematerialisation of the company's shares may take place over the period from 
Tuesday, 18 March 2025 to Thursday, 20 March 2025, both days inclusive. Trading in the company's shares ex dividend will 
commence on Tuesday, 18 March 2025. The dividend is scheduled to be paid in South African Rand (ZAR) on Monday, 24 March 2025.

Dividends will be paid net of dividends tax (currently 20%), to be withheld and paid to the South African Revenue
Service. Such tax must be withheld unless beneficial owners of the dividend have provided the necessary documentary
proof to the relevant regulated intermediary (being a broker, CSD participant, nominee company or the company's
transfer secretaries Computershare Investor Services (Pty) Ltd, Private Bag X9000, Saxonwold, 2132, South Africa) 
that they are exempt therefrom, or entitled to a reduced rate, as a result of a double taxation agreement between 
South Africa and the country of tax domicile of such owner.

The withholding tax, if applicable at the rate of 20%, will result in an interim net cash dividend per ordinary share
of 253.6 South African cents. The company had 408 498 899 ordinary shares in issue on the date of this announcement.
The dividend in respect of 24 581 208 of these shares (at the date of this announcement) held by Group subsidiaries 
as treasury shares for their own account will flow back into the Group. In accordance with the company's memorandum 
of incorporation, the dividend will only be paid by electronic funds transfer, and no cheque payments will be made.
Accordingly, shareholders who have not yet provided their bank account details should do so to the company's transfer
secretaries.

The directors have determined that gross dividends amounting to less than 2 000 South African cents, due to any one
shareholder of the company's shares held in certificated form, will not be paid, unless otherwise requested in writing,
but the net amount thereof will be aggregated with other such net amounts and donated to a charity to be nominated by
the directors of the company.

By order of the board.
H Saven           MS Mark
Chairman          Chief Executive Officer

27 February 2025

Registered office
No. 1 Mostert Street, Cape Town, 8001, South Africa 
PO Box 600, Cape Town, 8000, South Africa

Sponsor in South Africa: One Capital

Sponsor in Namibia: Merchantec Capital

Auditors: Deloitte & Touche

Transfer secretaries
In South Africa: Computershare Investor Services (Pty) Ltd, 
Rosebank Towers, 15 Biermann Avenue, Rosebank, 2196, South Africa
Private Bag X9000, Saxonwold, 2132, South Africa

In Namibia: Transfer Secretaries (Pty) Ltd, 
Robert Mugabe Avenue No. 4, Windhoek, Namibia 
PO Box 2401, Windhoek, Namibia

Company Secretary: C Durham

Directors
H Saven (Chairman)^#, MS Mark (CEO)*, EFPM Cristaudo (Joint Deputy CEO/CFO)*, SJ Proudfoot (Joint Deputy CEO)*, 
BM Deegan^#, RG Dow^#, D Earp^#, JHW Hawinkels (Lead Independent Director)^#, AMSS Mokgabudi^#, TF Mosololi^#, 
DR Motsepe^#, WG Muller^#, RJA Sparks^# and AJ Taylor^#

*Executive ^Non-executive #Independent

www.truworths.co.za/investor-relations

Date: 27-02-2025 03:30:00
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