Diluted HEPS down 3.3% y-y to 392.5cps (1H24: 405.9cps).
Turnover decreased by 10.32% y-y to R10.8bn, with revenue from PEG down 16.1% y-y and Agrimark Grain down 29.0% y-y.
Revenue was under pressure due to the high contribution of fuel revenue (57.6%) and a reduced grain handling income. Fuel prices reduced by an average 12.4% y-y.
GPM up 170bps to 15.4%.
Operating expenses grew 1.9% y-y, with expense-to-sales up 130bps to 11.4%.
OPM up 30bps to 5.1%.
Dividend of 56.0cps (1H24: 54.0cps).
Group fuel volumes decreased 2.6% y-y, but outperformed industry-wide volume reductions. Loadshedding-related fuel demand was lower in 1H25 compared to LY.
The Fuel Company (TFC) rebranded to PEG Retail Operations, consolidating the group’s fuel and retail convenience business under one entity.
