Diluted HEPS increased by 109.9% y-y to 74.8cps.
Revenue increased by 11.3% y-y to R8 787m, positively impacted by stronger demand, enhanced channel and product mixes and improved pricing.
Operating margin up by 460bps to 9.9%.
Operating expenses increased by 5.9% y-y, with operating expense to revenue of 90.1% (1H25: 94.7%).
Dividend of 15.0cps (1H25: nil).
Cashflow from operations decreased by 51.1% y-y to R369m.
Gross debt decreased from R338m to R250m, while net cash increased from R971m to R1 665m. Net debt to EBITDA decreased from -0.54x to -0.67x.
The strong financial improvement was driven by consistent operational improvements, improved agricultural performance,
enhanced efficiencies and a disciplined focus on cost management, together with lower commodity pricing relative to the comparative period.
Further, the reduction in costs related to energy loadshedding and Avian Influenza delivered a combined positive benefit to the business in the current period.
