Diluted HEPS of 16.7cps (+20.1% y-y).
Revenue from continuing ops increased by 6.7% y-y to R5 958m. Group sales volumes increased by 6.7% y-y, accounting for all revenue growth.
GPM from continuing ops up by 90bps to 21.6%, largely driven by improved capacity utilisation and production efficiencies in the Wet Condiments sub-category.
Operating expenses from continuing ops increased by 9.4% y-y, while expense-to-sales increased from 17.5% to 17.9%.
OPM from continuing ops up by 30bps to 3.9%.
Cash flow generated from operating activities increased 147.4% y-y to R331m.
No dividend (1H24: nil).
Gross debt decreased from R1 539m to R1 312m, while net cash increased from R96m to R240m. Net debt to EBITDA decreased from 1.90 to 1.34.
The comparative interim period segmental disclosure has been restated to present Chet Chemicals as a discontinued operation.
The group has received indicative expressions of interest from parties to acquire all of the issued share capital of the Company. Engagements with these parties is at an early stage.
