This was a particularly challenging year for the Company. Reasonable revenue growth was obtained, but trading margins came under pressure as a result of competitive market conditions and the weaker Rand. Also, the Board-led process to respond to expressions of interest for control of the Company necessitated very significant
effort and resources and also required that certain other strategic growth initiatives be suspended.
- Turnover increased 18% to R5,45 billion
- EBITDA increased 11% to R1,1 billion
- HEPS decreased 17% to 350,5 cents
- Acquisition of Cosme brands in India concluded at a cost of R782 million
- Shareholder approval pending for scheme of arrangement proposing a cash and shares transaction with CFR
- Departure from stated dividend policy and no final dividend proposed