Diluted HEPS of 1 690.4cps (+18.4% y-y).
Revenue grew 11.1% y-y to R10.3bn, driven by growth in the Traditional segment (+10.7% y-y), and Speciality (+17.6% y-y).
Comparable store sales across all brands up 4.8% y-y.
Merchandise GPM up 30bps to 43.7%.
Total expenses grew 13.1% y-y, with expense-to-sales ratio up 100bps to 57.7%. Costs were impacted by performance and growth-related expenses like the accelerated store expansion.
OPM increased by 20bps to 12.6%. Merchandise OPM up 110bps to 23.8%. Impairments of R76.2m (FY25: R18.2m) mainly relate to ROU assets in the Speciality segment.
Dividend of 897.0cps (FY25: 800.0cps).
Net cash improved from -R880m to R120m.
Gross debt of R1 350m was related to increased investment in the debtor’s book and store expansion.
Gearing ratio (incl. lease liabilities) up to 0.40x, while the borrowings ratio (excl. lease liabilities) up to 0.22x. Both ratios are within management’s guidance.
Non-performing credit accounts rose to 5.2% (FY25: 4.1%).
Debtors’ impairment provision increased from 37.2% to 37.7%.
