Diluted HEPS decreased by 1.6% y-y to 94.0cps (1H25: 95.5cps).
Revenue decreased by 0.5% y-y to R3 613m.
OPM decreased by 70bps to 8.9%.
Total expenses increased by 0.3% y-y to R3 330m, while expense-to-sales increased from 91.5% to 92.2%.
Dividend of 100cps (1H25: nil).
Cash generated from operating activities increased from R162m to R171m.
No gross debt, with net cash increasing from R2 356m to R2 855m.
Due to lack of approval from the SARB, the board resolved to withdraw the declaration of a special dividend, and declare an interim dividend in the same amount to shareholders.
Trading conditions continued to be subdued, with no real improvement in growth or consumer demand. The performance of the Publishing and Printing segment was substantially down, while the packaging operations managed to increase profitability.
