INTEGRATED REPORT 2023

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ABOUT
TRUWORTHS INTERNATIONAL

TRUWORTHS INTERNATIONAL LTD IS AN INVESTMENT HOLDING AND MANAGEMENT COMPANY BASED IN CAPE TOWN, SOUTH AFRICA. THE MAIN OPERATING COMPANIES, TRUWORTHS LTD (TRUWORTHS, OPERATING PRIMARILY IN SOUTH AFRICA) AND OFFICE HOLDINGS LTD (OFFICE, OPERATING PRIMARILY IN THE UNITED KINGDOM) ARE LEADING RETAILERS OF FASHION CLOTHING, FOOTWEAR, HOMEWARE AND RELATED MERCHANDISE.

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ABOUT TRUWORTHS INTERNATIONAL

OUR BUSINESS PHILOSOPHY

Our Business Philosophy is core to the ongoing success of the business. We rigorously apply our Business Philosophy to direct our consistent focus on creating value for our stakeholders.

Our strategic objectives are aimed at adherence to and fulfilment of the objectives of our Business Philosophy as defined by our Purpose statement and our Vision for stakeholders. We strive to achieve these strategic objectives through the successful execution of various plans and actions. The extent to which these plans and actions have been successful is then measured by comparing the stakeholder Vision to reality which allows us to identify areas where improvements need to be made.

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OUR BUSINESS PHILOSOPHY

LEADERSHIP REVIEWS

ANNUAL DIVIDEND
PER SHARE
increased by 12% to
565 cents
(2022: 505 cents)

'Our capital management strategy focuses on reinvesting in the long-term growth of the business and returning surplus funds to shareholders.'

Hilton Saven
Independent Non-executive Chairman

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CHAIRMAN'S REPORT

RETAIL SALES
UP 11.4% to
R20.6 billion
(2022: R18.5 billion)

'We are confident that our business model will continue to show its resilience as we enter what is expected to be another challenging year for our customers.'

Michael Mark
Chief Executive Officer

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CHIEF EXECUTIVE OFFICER'S REPORT

HEPS
increased by 12% (9%*) to
873 cents
(2022: 780 cents)

DILUTED HEPS
increased by 12% (9%*) to
861 cents
(2022: 771 cents)

‘The Group has again achieved all six of its financial and operating targets, with three targets being exceeded.’

Emanuel Cristaudo
Chief Financial Officer and Joint Deputy Chief Executive Officer

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CHIEF FINANCIAL OFFICER'S REPORT

INTEGRATED REPORT 2023