Diluted HEPS of 16.8cps (1H24: 21.7cps).
Revenue increased by 2.2% y-y to R15 355m, supported by increased production capacity and market share gains at PG Bison, Safripol and Sleep Group (previously Restonic).
GPM decreased by 50bps to 17.9%.
OPM decreased by 90bps to 7.3%.
Total expenses increased by 6.2% y-y to R1 634m, while expense-to-sales increased from 10.2% to 10.6%.
No dividend.
Cash generated from operating activities decreased from R91m to -R48m.
Gross debt up 5.4% y-y to R10 050m, with net cash increasing to R1 120m.
Utilisation of the new medium-density fibreboard (‘MDF’) line in Mkhondo line was below capacity due to the stop-start nature of the ramp-up and time required to displace imports and penetrate new markets.