Diluted HEPS up 68.6% y-y to 133.7cps.
Revenue increased by 12.9% y-y to R7 147m. Revenue from the South African operations rose by 12.6% y-y, while revenue from Other African operations increased by 16.5% y-y.
Gross margin up by 110bps to 20.4%.
Operating margin up by 160bps to 5.2%, driven by a recovery in the Farming segment.
Earnings from the broiler farming business increased on the back of higher volumes of day-old chicks produced and excellent farming efficiencies. Earnings from layer farming improved significantly, supported by much higher throughput, improved efficiencies and fewer HPAI outbreaks.
Operating expenses increased by 8.6% y-y with operating expense to revenue of 18.2% (FY24: 18.9%).
Dividend of 34.0cps (FY24: nil).
Cashflow from operations increased by 29.6% y-y to R356m.
Capex intensity increased to 3.7% (FY24: 2.4%). The main capital projects included the building of an additional feed mill in Malmesbury and the conversion of a commercial broiler farm and a layer rearing farm in Gauteng to broiler breeder farms.
