Diluted HEPS 44.6cps (-3.9% y-y).
Turnover decreased by 1.9% y-y to R29 062m.
GPM increased by 50bps to 17.7% from 17.2%.
Expenses decreased by 12.8% y-y. Expense to sales decreased to 10.1% from 11.4%.
OPM increased by 180bps to 7.6% from 5.8%.
No dividend (FY23: nil).
Cash generated from operating activities down 16.4% y-y to R2 178m.
Five of the six divisions delivered an improved performance compared to the prior year period in terms of operating profit. This was partly offset by a weaker performance by Safripol, which continued to be affected by a cyclical low in the global polymers industry.
The group successfully commissioned its major capital projects in the second half of FY24, which are expected to meaningfully contribute to the group’s future earnings and enable a planned debt reduction.
