Diluted HEPS improved to 316cps (+6.7% y-y), with turnover growth of +2.3% y-y. 1H22 GPM remained unchanged at 39.6% (1H21: 39.6%), while operating margin increased by 90bps to 20.8%. Expenses were well managed with expense to sales down 90bps to 19.8%. CAPEX to sales slowed down to 1.9% (1H21: 2.0%). Direct cost due to unrest amounted to R36.9m across Snackworks and Spitz.
SASRIA insurance proceed were R64.4m. Interim dividend of 170cps (1H21:440cps includes special div).
