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CPL ANNOUNCES 2022 RETURNS

CPL Group has recently announced its results of 2022 financial year, amidst what have been tough business conditions and multiple disruptions due to Papua New Guinea’s National Elections.

The dividend declared for the FY 2022 amounts to 5toea per share and this is 25% higher than FY2021. The CPL group profit after tax was K15.5m.

The parent company, City Pharmacy Limited which comprises of Pharmacy outlets across Papua New Guinea and Stop & Shop Supermarkets in Port Moresby, reflected a revenue growth of 5.1%, whilst Home and Lifestyle brand Hardware Haus continued to hold its market position from the previous year.

Contributions from Joint Ventures businesses Jacks of PNG and Prouds PNG show a steep incline of 150% in comparison to the previous financial year.

Key highlights of 2022 include the opening of four new retail locations across the country – Hardware Haus in Goroka and North Waigani, Port Moresby, and City Pharmacy in Kundiawa and Eriku in Lae. This now takes the total number of retail outlets to 78 across PNG, including joint venture businesses.

For their shareholders, these are the following dates to observe:

Ex-Date: 22nd March 2023

Record Date: 1st May 2023

Payment Date: 30th May 2023

CPL Group brands will continue to be the preferred shopping destination in Papua New Guinea by delivering outstanding value and exceptional customer service for communities, customers, suppliers, and team members. The Group will keep focused on ensuring shareholder value as they venture into the next 12 months.

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