Diluted HEPS 21.4 cps (1H23: 2.9 cps)
Revenue declined by 12.8% y-y (1H23: +22.0% y-y).
GPM up to 18.9%. (1H23: 17.2%)
Expense to sales of 18.4% (1H23: 16.2%).
Operating margin increased by 170bps to 2.1% (1H23: 0.4%). Higher expenses were offset mainly by an upward fair value adjustment to agricultural produce and a gain on a futures contract hedge.
PBT % increased to 1.8% (1H23: 0.2%).
No dividend (1H23: nil).
Revenue from the Egg segment decreased by 39.7% y-y with an average egg selling price increase of 57.1% y-y being offset by the decrease in sales volumes of 61.5% y-y. Lower volumes due to a loss of hatching egg production following the HPAI outbreak in Q3 of FY23.
The Animal Feeds segment impacted by an adjustment of selling prices due to decreased input costs.
R99m borrowings raised to provide SA businesses with additional liquidity for working capital investment and expansion projects.
