Diluted HEPS 530cps (+33.7% y-y).
Turnover increased by 18.6% y-y to R15 711m, attributed to lower interest rates, a stronger Rand and low import prices.
GPM decreased from 18.6% to 17.2%.
Expenses increased by 7.2% y-y while expense-to-sales decreased from 13.9% to 12.6%.
OPM remained flat at 4.8%. Dividend of 222cps (FY25: 273cps), with the share repurchase offer completed in December 2025, totalling R192m.
Cash generated from operating activities up 18.7% y-y to R910m.
Indian (c.39%) and Chinese (c.16%) sourced vehicles make up c.55% of the total sold in SA. Suzuki is now the Group’s top seller, and Foton, Mahindra and Haval/GWM are in the top six by volume.
The luxury market segment appears to have stabilised, at lower volumes, but dealer network rationalisation continues.
The drive by manufacturers towards new energy vehicles has not been matched by customer enthusiasm. Demand has cooled, with sales comprising only 2.8% of the national total sales and hybrids contributing 78% of those.
