Diluted HEPS up 2.1% y-y to 125.6cps.
Revenue decreased by 2.1% y-y to R8 876m.
Group GPM maintained at 40.7%.
Total expenses declined 3.9% y-y, with expense-to-sales ratio decreasing by 40bps to 22.2%.
Trading profit margin increased by 50bps to 23.2%.
Dividend of 50.0cps (FY24: 49cps). Special dividend of 98.0cps (FY24: 78.0cps) due to ITE’s strong cash generation and cash reserves being in excess of operational requirements.
Gross debt of R500m (FY24: R500m) with net cash increasing to R2 169m (FY24: R1 844m).
Transactions in Retail increased 1.3% y-y while the basket size decreased 0.7% y-y. Average selling price in Retail increased by 0.2%.
Reduced margins weighed on the performance of the tile division, with volumes down 5.0% y-y and average selling price down 2.1%, despite producing larger format tiles.
Ceramic Industries benefitted from a once-off release of a R45m provision due to NERSA rejecting Sasol Gas’ price increase.
