Diluted HEPS fairly flat at 33.1cps (FY24: 33.2cps).
Turnover increased by 3.5% y-y to R1 997m, driven by average room rate increases of 7% y-y (FY24: 9% y-y).
Expenses increased by 4.2% y-y with expense-to-sales increasing from 80.5% to 81.1%.
OPM increased from 20.1% to 22.3%.
Dividend of 15.0cps (LY: 15.0cps).
Cash generated from operating activities down 12.7% y-y to R331m.
Average occupancy down slightly from 58% to 56%, dampened by geopolitical uncertainty.
The group had 48 748 room nights (FY24: 33 353 room nights, 2% of total room night inventory) out of inventory during the year due to refurbishments at eight hotels.
Tax increased by 49.7% y-y to R98.4m (2024: R65.8m). Included R9.6m of capital gains tax on the sale of CL Katherine Street, and a R13.5m impairment of the deferred tax asset in Namibia due to changes in the tax legislation relating to the treatment of assessed losses.
