For the six months ended 31 December 2023, the group said operating profit declined by 25.3% to R180.6-million, while revenue declined by 13% to R4.3-billion.
But higher interest rates resulted in a 50.5% increase in finance costs to R115.1-million , with the average prime interest rate 24% higher in this period compared to a year ago.“The average borrowing rate applicable to the group’s US dollar-based borrowings nearly doubled to 5.3% from 2.9% in the comparative period.
“We are cautiously optimistic that the AI PC will bring a new round of potential growth in the PC market,” it said, referring to demand for computers with processors capable of on-device generative artificial intelligence tasks.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: