South African distributor Boxer announced on Monday, 12 October, revenue of 24.1 billion rands for the 26 weeks ended 30 August, up 6.3% year on year despite lower selling prices.
Operating profit rose 8.1% to just over 1 billion rands, while profit before tax and capital items increased 10.6% to 774 million. Current earnings reached 565 million rands, an increase of 9.1%.
The company declared a gross dividend of 49.932 cents per share, representing 40% of current earnings per share. Payment is scheduled for 7 December to shareholders registered on 4 December, subject to the applicable tax regime.
Boxer says its selling prices fell 2.4% over the period, which supported volumes but limited nominal growth in revenue. The group warns that high oil and diesel prices, as well as the uncertain timing of a return of food inflation, remain risks to margins and household budgets.
The distributor opened 24 stores during the half-year, including nine supermarkets and fifteen liquor outlets. The network had reached 32 openings as at 30 September, and management maintains its target of 60 new locations for the current financial year.
Chief Executive Marek Masojada is due to retire at the end of February 2027. Justin Galloway, currently head of supply chain, will succeed him on 1 March, while Masojada will remain available during the transition until November 2027.