Diluted HEPS down 1.2% y-y 118.6cps (1H25: 120.0cps).
Turnover increased by 7.8% y-y to R14 155m. Buying volumes at 95 328 vehicles (+3.2% y-y) and selling volumes at 93 519 vehicles (+2.3% y-y).
Expenses increased by 8.5% y-y while expense-to-sales decreased from 94.4% to 95.0%.
OPM increased from 5.6% to 5.0%.
Dividend of 33.0cps (1H25: 30.0cps).
Cash generated from operating activities increased from R284m to R65m.
WBC entered into a settlement agreement with the NCC, which resulted in an administrative penalty of R2.5m, and redress and refund totalling R3.4m. R1m of the penalty was paid in December 2025.
Inventories (up 19.7% y-y) have grown to fill the recently added supermarket capacity. The inventory value per unit at R187 081 (30 September 2025: R186 357) has increased slightly, primarily due to the large volumes of more affordable vehicles priced between R50 000 and R150 000, which are currently selling at higher inventory turns.
