Diluted HEPS of 937.6cps (1H24: 796.1cps).
Revenue from continuing ops increased by 1.9% y-y to R18 482m, primarily driven by price inflation with flat volumes.
Gross margin from continuing ops up by 110bps to 29.6%. This increase was driven by naked margin expansion due to price deflation in key commodity categories, as well as factory efficiencies and value engineering savings.
Operating margin from continuing ops up by 210bps to 9.6%, driven by topline growth, logistics optimisation savings delivering ahead of expectations, and other continuous improvement (CI) initiatives such as value engineering.
Operating expenses decreased by 3.0% y-y with operating expense to revenue of 20.1% (1H24: 21.1%).
Dividend of 415.0cps (1H24: 350.0cps).
Special dividend of 1 216.0cps.
Cashflow from operations increased from R124m to R2 964m.
Gross debt (incl. overdraft) decreased from R3 695m to R600m, while gross cash increased from R1 021m to R6 458m. Net debt to EBITDA decreased from 0.71x to -1.30x.
Total proceeds of R4.3 billion from sale of non-core operations which impacted PBT.
