The CPL Group has announced its 2022 financial year results, with a declared dividend of 5 toea per share, a 25 percent increase from FY2021.
The Group's profit after tax was K15.5m, despite challenging business conditions and disruptions due to Papua New Guinea's National Elections.
City Pharmacy Limited, the parent company consisting of pharmacy outlets across Papua New Guinea and Stop & Shop Supermarkets in Port Moresby, achieved a revenue growth of 5.1 percent.
Hardware Haus, the Home and Lifestyle brand, maintained its market position from the previous year. Joint venture businesses Jacks of PNG and Prouds PNG made a significant contribution, showing a steep incline of 150 percent compared to the previous financial year.
In 2022, the Group opened four new retail locations across the country, including Hardware Haus in Goroka and North Waigani, Port Moresby, and City Pharmacy in Kundiawa and Eriku in Lae. This brings the total number of retail outlets in PNG to 78, including joint venture businesses.
Shareholders have been told to observe the following dates:
Ex-Date: March 22, 2023,
Record Date: May 1, 2023,
Payment Date: May 30, 2023
The CPL Group is committed to remaining the preferred shopping destination in Papua New Guinea by delivering exceptional value and customer service to communities, customers, suppliers, and team members.
The Group will continue to focus on ensuring shareholder value as it moves into the next 12 months.