HEPS 70.6cps (+4.6% y-y).
Revenue contracted 0.3% y-y to R4 782m.
Total group GPM down 20bps to 41.1%, with achieved Retail GPM down 80bps to 36.5%, Manufacturing GPM down 270bps to 22.4%, and Supply and Support Services GPM down 70bps to 11.2%.
Good expense control with expenses down 4.6% y-y. Expense-to-sales ratio down 100bps to 21.0%.
Trading profit margin improved by 80bps to 24.7%.
Dividend of 28.0cps (1H24: 27.0cps).
Gross debt constant at R500m, with net cash increasing to R1 590m (1H24: R1 458m).
Like-for-like system-wide retail store revenue up 3% y-y.
Average price inflation was nominal at 0.33%.
Ceramic Industries turnover was down 4% y-y while Ezee Tile reported revenue growth of 7% y-y. Combined Manufacturing sales declined 1.9% y-y.
In the two months subsequent to the review period, Retail and Import Supply Chain businesses delivered revenue in line with the prior comparable period, however, Manufacturing turnover was weaker.
