Diluted HEPS 172.1cps (+9.7% y-y).
Revenue growth +13.8% y-y to R2 010m, driven by Franchise SA (+10.4% y-y), Retail SA (130.8% y-y) and Rest of Africa and Middle East (+20.2% y-y). The Doppio Collection was only included for one month in the prior period. Excluding Doppio Collection, group revenue increased by 7.6% y-y.
GPM up 160bps to 31.8%.
Expenses grew by 22.1% y-y, with expense-to-sales up 150bps to 21.8%.
OPM up 20bps to 10.1%.
Dividend of 106.0cps (1H24: 95.0 cps).
Net cash improved from R288m to R367m.
In South Africa, volume growth was driven mainly by the Spur brand which increased restaurant sales by 2.8% y-y.
Local takeaway sales represent 13% of total local restaurant sales, with 48% as collect orders (call, click or walk in).
The Speciality brands increased sales by 86.0% y-y driven by the inclusion of the Doppio Collection. Excluding the three Doppio Collection brands, the existing Speciality brands increased restaurant turnovers by 5.2% y-y.
