Diluted HEPS 196.1cps (+4.0% y-y).
Turnover decreased by 4.7% y-y to R6 647m.
OPM decreased by 260bps to 9.0%. Overall margins were under pressure as competition in most markets intensified while the weighted average cost of raw materials increased relative to the prior year.
Expenses decreased by 1.5% y-y while expense-to-sales increased from 91.7% to 94.7%
Dividend of 60cps. Prefernece dividend of 490cps.
Cash generated from operating activities improved from R523m to R874m, supported by working capital released R87.6m as the Group’s inventory holdings declined by R177.9 m.
The Group incurred a loss of R45.3m on the sale of the shareholding in Novus Holdings Limited – in contrast to the prior period profit on the sale of Private Property South Africa Proprietary Limited of R79.0m.
