Diluted HEPS (continuing operations) up 11.1% y-y to 918cps.
Poland was treated as a discontinued operation.
Turnover growth +4.0% y-y, with SA +3.7%, Ireland +2.8% (EUR), and Switzerland -6.2% (CHF).
GPM stable at 11.9% with higher margins in Ireland and Switzerland.
Expense-to-sales ratio decreased from 12.4% to 12.3% with expense growth of 3.5% y-y.
Operating margin improved from 1.7% to 1.9%.
No dividend (FY23: nil); dividends will be reconsidered based on future macro-economic and operating conditions.
Capex cut sharply from R1.9bn in FY23 to R1.1bn in FY24; capex to sales ratio at 0.7% (FY23: 1.3%).
Gross debt decreased from R8.3bn to R6.7bn, while net overdraft increased from R1.7bn to R2.4bn. Net debt to EBITDA dropped from 3.02 to 2.41.
Secured R2bn facility with R1.2bn used to partially settle Polish debt. Gearing within debt covenants.
