Diluted HEPS of 87.5cps (1H24: 99.8cps).
Revenue increased by 3.5% y-y to R4 034m. This was supported by good growth in the Regional segments which reported a strong recovery in volumes despite consumer spending remaining under pressure.
Operating margin down by 170bps to 8.5%. This was largely as a result of a lower operating profit in the International segment due to lower revenue and pressure on the gross profit margin owing to selling price deflation.
Operating expenses increased by 5.7% y-y with operating expense to revenue of 92.0% (1H24: 90.1%).
Dividend of 29.6cps (1H24: nil). The board has amended the dividend policy and will now declare both an interim and a final dividend each year.
Cashflow from operations increased from -R48m to R183m.
Gross debt decreased from R295m to R155m, while net cash improved from -R740m to -R581m. Net debt to EBITDA decreased from 0.94x to 0.73x.
