1 / 14

SAPO GROUP

SAPO GROUP. Financial Overview 2003-2004. Financial overview 2003/2004. Key achievements – Improved Financial Performance. 31 March 2003. Operating loss R170 million. 31 March 2004. Operating profit of R35.5 million . Target was R1.8 million. Improvement in operating profit.

verda
Télécharger la présentation

SAPO GROUP

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. SAPO GROUP

  2. Financial Overview 2003-2004

  3. Financial overview 2003/2004

  4. Key achievements – Improved Financial Performance • 31 March 2003. • Operating loss R170 million. • 31 March 2004. • Operating profit of R35.5 million. • Target was R1.8 million. • Improvement in operating profit. • R205 million.

  5. Key achievements – improved financial performance • Revenue growth of R261 million – 6.3 %. • Increase in costs of only 1 %. • Aggressively managing costs and curtailing non value adding expenditure. • Creative management of capital expenditure through Partnerships • Outright Purchase - Lease - Pay for use • Decrease in staff numbers of 1 042 due to voluntary packages. • Reduction of fleet – 350 vehicles.

  6. Key achievements – improved financial performance • Improvement in working capital. • Reduction of Post Office debtors days from 30 to 20 days. • Generation of approx R270m cash from operations.

  7. Key achievements - Postbank • YTD MAR 2004 growth of R560 million in Postbank’s depositors book compared to 31 March 2003, 46 % growth. • Introduction of Thuso insurance product. • Miracle 2000 – R38.6 million deposit. • Introduction of new savings products ( term save, bonus save and group save). • Growth of accounts 528 000 new accounts, 28 % growth.

  8. Balance Sheet Improvements • Negative retained earnings R1.4b at March 2004. • To be resolved through • Reduction in post retirement medical aid liability R2.3b (provided R1.1b) • Postbank recapitalisation R750m • Review of property values • Sustainable profitable performance

  9. Key projects for 2003/2004. • 51 Post Offices have been installed with “New image”. / upgraded. • SAP upgrade. • E-BDN. • Fixed assets project. • Server consolidation. • Upgrade of Network. • Biometrics • Online private box renewals. • Financial switch.

  10. Operating profit

  11. Subsidy

  12. History

  13. 2001/2002 SUBSIDY

  14. 2002/2003 SUBSIDY

More Related