1H24 figures restated to reflect SG Fleet and inTime as discontinued ops.
Diluted HEPS from continuing ops of 104.8cps (restated 1H24: 138.0cps).
Turnover decreased by 7.8% y-y to R23 674m, 1H24 restated to R25 674m, driven by the poor results in the UK Dealerships and the Supply Chain Africa Commodity businesses.
Expenses decreased by 7.6% y-y with expense-to-sales increasing from 94.0% to 95.9%.
OPM decreased by 190bps to 4.1%, impacted by weaker margins in the Supply Chain Africa Commodity businesses and Dealerships UK.
Profit from discontinued ops. of R655m (1H24: R469m), the significant increase is attributable to ceasing depreciation and amortisation on the SG Fleet and inTime operations under IFRS 5.
No dividend.
Cash generated from operating activities improved from -R1 512m to R510m.
