Diluted HEPS 632.1cps (+16.5% y-y).
Revenue up 11.3% y-y to R4.8bn, driven by Traditional (+10.5% y-y) and Speciality (+24.2% y-y).
Merchandise GPM up 10bps to 41.0%.
Expenses grew 12.1% y-y, with expense-to-sales increasing from 58.1% to 58.6%.
OPM increased from 9.9% (restated) to 10.8%.
LEW gross debt increased to R1 350m (1H25: R300), mainly due to the increase in revolving credit facilities and the floating rate note. Net cash improved from -R961m to -R131m.
Dividend of 337cps (1H25: 300cps).
Credit sales grew by 8.0% y-y while cash sales grew 3.7% y-y.
Merchandise sales in Traditional increased 6.4% y-y, with Speciality up 9.1% y-y. Comparable store sales across all brands up 2.3% y-y.
In the debtors’ book, satisfactory paying customers increased to 82.7% (1H25: 81.6%) and collection rate was 78.3% (1H25: 79.5%).
Store base increased by net 40 stores to 958.
