Market share maintained across the portfolio

• Revenue from continuing operations up 5.4% to R13.6 billion
• EBITDA from continuing operations up 25.1% to R1.55 billion
• Underlying EBITDA from continuing operations up 20.5% to R1.39 billion

Tangible benefits yielded for shareholders

• Earnings per share from total operations up 12.8% to 135.1 cents
• Headline earnings per share from total operations up 35.4% to 109.4 cents
• Underlying headline earnings per share from continuing operations up 28.9% to 99.8 cents
• Interim dividend of 20 cents per share declared

Segmental commentary

• Groceries benefitted from a favourable product mix in pet food, improved margins resulting from lower raw material input costs, savings initiatives, production efficiencies and reduced load- shedding.
• The Baking business unit delivered an improved performance, despite muted volumes in most categories. A focus on continuous improvement and net revenue management initiatives, lower input costs and the suspension of load-shedding drove their improved result.
• After consecutive years of record performance off a high base, Sugar continued to deliver strong results, aided by continuous improvements in operational performance and reduced industry exposure to lower margin raw exports. Despite higher sales volumes, Molatek was down on the prior period mainly driven by a less favourable sales mix and rising input costs.
  

Results summary:

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