9% earnings rise revs up WeBuyCars

JSE-listed used-vehicle group WeBuyCars recorded a 9.9% rise in core headline earnings per share for the year ended 30 September, 2024.

In a statement published on Sens yesterday, the group says higher average selling prices, operational efficiencies, higher inventory turns, and cost efficiencies driven by economies of scale helped it maintain gross margins similar to the previous period despite difficult trading conditions.

The group declared a final cash ordinary dividend of 25 cents per ordinary share payable to shareholders of the 417 181 120 (2023: 2 071 797) ordinary shares.

WeBuyCars's share price traded at R39.50 at around 10am yesterday - 0.40% down from Friday.