Diluted HEPS of 405cps (1H24: 875.0cps).
Revenue increased by 3.5% y-y to R10 721m.
Gross margin down by 430bps to 14.5%.
Operating margin down by 280bps to 2.5%.
Operating expenses decreased by 9.4% y-y with operating expense to sales of 12.5% (1H24: 14.2%).
Dividend of 220cps (1H24: nil).
Cashflow from operations decreased by 18.1% y-y to R577m.
The group has gross debt of R25m (excl. overdraft), while net cash increased from -R444m to R259m.
Broiler sales volumes increased by 4.4%y-y.
Total feed sales volumes increased by 5.9% y-y, while external feed sales volumes increased by 6.4% y-y.
The Cybersecurity incident in March 2025, impacted the Group’s profit by approximately R20m.
Good prospects for the current local maize crop, which is expected to increase supplies, to possibly benefit poultry feeding input costs.
Broiler margins were thin going into the period under review, with higher input costs and lower poultry selling prices in the market.
