Diluted HEPS from continuing operations increased by 0.1% y-y to 953cps (1H25: 952.0cps).
Revenue increased by 9.5% y-y to R4 212m, with Consumer-related revenue up by 2.7% y-y and Engineering consumables up by 15.3% y-y.
Total expenses increased by 10.3% y-y with expense-to-revenue of 88.6% (1H25: 87.9%).
Operating margin down by 70bps to 11.4%. Lower sales volumes as a result of lower consumer confidence from the Middle East conflict generated a decline in the operating margin.
Dividend of 385cps (1H25: 350cps).
Cashflow from operations increased from R365m to R316m.
Gross debt decreased from R1 000m to R800m, while net cash increased from R43m to R146m.
Capex increased to R80m (1H25: R38m).
HDC has discontinued two underperforming businesses within Eternity Technologies: the alternative energy division, due to commoditisation, low margins and lower demand post-load-shedding, and the battery bay management and service business.
