Diluted HEPS increased from -17.4 cps LY to 79.3 cps TY.
Turnover decreased by 8.9% y-y to R6 332m, mainly due to HPAI (bird flu).
GPM increased from 17.0% to 19.3%.
Expenses increased by 2.1% y-y while expense-to-sales increased by 210bps to 18.9%.
OPM increased from -0.5% to 3.6%, Other income increased to R185m (FY23:-R66.4m), mainly due to fair value adjustments.
No dividend declared (LY: 0cps).
Cash generated from operating activities down from R280.7m to R274.8m.
Gross debt increased to R99.4m (LY:0)
The Group’s performance significantly improved as a result of, a decrease in key feed raw material costs resulting in lower feed costs, a significant reduction in loadshedding and a reduction in biological asset write-offs incurred as a result of HPAI outbreaks.
Earnings in the egg business significantly improved due to the higher egg selling prices, together with excellent cost management and operational efficiencies.
