Unaudited interim results

for the six months ended 31 December 2019

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Group key features

  • Continuing revenue
    1% to
    R25,4 billion

  • Continuing operating profit
    9% to
    R1,6 billion

  • Continuing headline earnings per share (HEPS)
    10% to
    371 cents
    per share

  • Continuing earnings per share (EPS)
    12% to
    372 cents
    per share

  • Free cash conversion
    72%

    (H1 F2019: 75%)

  • Net debt:EBITDA*
    (excluding IFRS 16)
    2,0x

    (H1 F2019:1,5x)

  • ROIC of
    10,0% against
    WACC of 8,0%

    (H1 F2019: ROIC of 10,5% versus WACC of 8,3%)

  • Interim cash dividend
    167 cents
    per share

    (H1 F2019: 135 cps); 45% of continuing HEPS

Note: Return on invested capital (ROIC) and weighted average cost of capital (WACC) are calculated on a rolling 12-month basis. Comparatives have been restated for IFRS 16 – Leases and December 2018 was also represented for the consumer packaged goods business in South Africa (CPG) – under discontinued operations.

Divisional revenue

  • December 2019

  • December 2018


Divisional operating profit

  • December 2019

  • December 2018


Total group – continuing operations

  • Revenue
    Rm

  • Operating profit
    Rm

  • Headline earnings per share
    Cents

  • Total assets
    Rm