Diluted HEPS of 904.2cps (FY24: 734.0cps).
Revenue increased by 7.0% y-y to R19 885m.
Gross profit margin up by 80bps to 34.7%.
Operating margin up by 80bps to 9.6%.
Operating expenses increased by 6.5% y-y with operating expense to revenue of 25.2% (FY24: 25.3%).
Dividend of 271.0cps (FY24: 220.0cps).
Cashflow from operations decreased by 3.0% y-y to R1 645m.
Gross debt decreased from R2 221m to R1 920m, while net cash decreased from R636m to R467m. Net debt to EBITDA decreased from 0.77x to 0.62x.
Moderate revenue growth is anticipated for the most part of FY2026 driven by substantial declines in maize input prices and subdued global wheat prices.
The two-year capital project to refurbish the Aeroton bakery is expected to further enhance efficiencies and step change bread quality in the inland region.
