Diluted HEPS of 74.4cps (1H24: 21.4cps).
In the current reporting period, the Company benefitted from improved throughput as a result of a recovery in its layer flock, minimal load shedding in South Africa, relatively high egg selling prices and no HPAI outbreaks. Feed costs for the current reporting period were relatively stable compared to the previous reporting period.
Revenue increased by 19.6% y-y to R3 601m, driven by a
20.1% y-y increase in the South African operations’ revenue and a 13.8% y-y increase in the other African operations’ revenue.
Gross margin up by 90bps to 19.8%.
Operating margin up by 360bps to 5.7%, driven by an improvement in layer farming margins, which benefited from improved throughput, much improved efficiencies and no HPAI outbreaks occurring in the current reporting period.
Operating expenses increased by 9.6% y-y with operating expense to revenue of 16.8% (1H24: 18.4%).
No dividend (1H24: nil).
Cashflow from operations increased by 126.2% y-y to R231m.
Gross debt decreased from R99m to R89m, while net cash increased from R186m to R312m.
