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Fri 12 Dec 2025
Close: 9 410c 
Day's move: 143c (1.54%)
Volume: 988 037
Trades: 2 487
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Continuing operations
Revenue from sales of merchandise for the year grew to R131.5 billion (2024: R130.0 billion) whilst operating profit lowered to R2.0 billion (2024: R2.7 billion). Profit after taxation for the year attributable to owners decreased to R819.8 million (2024: R1.6 billion). In addition, headline earnings per share were down at 1 480.7 cps (2024: 1 725.5 cps).
Shareholder distribution
The Board has resolved not to declare a dividend for the Current period (Prior period: Nil cents per share) as it believes that it is prudent and in the best interest of shareholders to continue to de-gear the balance sheet to a more sustainable level. While no distribution has been declared at present, the Group remains committed to reinstating shareholder returns in the short to medium term, through dividends or share repurchase programmes. This position will be reassessed regularly, taking into account prevailing macroeconomic and operational dynamics. The Board's overarching priority is to ensure resources are deployed in a manner that delivers both sustainable growth and long-term value for shareholders.
Company outlook
The Group enters the 2026 financial year with improved financial resilience, streamlined operations and a clearer set of execution priorities.
Management will continue to implement a risk-controlled SAP rollout designed to safeguard supply chain stability and franchise continuity, ensuring minimal operational disruption. Margin restoration in Southern Africa remains a priority, underpinned by targeted retailer programmes, category optimisation and cost discipline.
Leverage ratios are expected to improve further as disciplined capital allocation and working capital management remains an ongoing focus. The Group will continue to simplify its capital structure to reduce interest drag, normalise the tax burden and enhance free cash generation.
The Board remains confident in the Group's ability to deliver sustainable operating performance and long-term value creation.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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