Wrap Text
Unaudited results for the six months ended 30 June 2026
CA SALES HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration number: 2011/143100/06
Registered as an external company in the Republic of Botswana
Botswana registration number: BW00001085331
JSE Limited (“JSE”) share code: CAA
Botswana Stock Exchange (“BSE”) share code: CAS-EQO
ISIN: ZAE400000036
(“CA&S” or “the Company” or “the group”)
UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2026
1. NATURE OF BUSINESS
CA&S is an Africa-focused group of route-to-market specialists, with a dual listing on the
BSE and JSE. The group holds a portfolio of dynamic fast-moving consumer goods
service businesses that partner with global and local brand owners to get their products
to consumers – ensuring their brands reach the right stores and shoppers across
Southern and East Africa.
The group connects brands to retail channels and shoppers. Its end-to-end capabilities
span selling and tailored distribution models, warehousing and logistics, retail execution
and merchandising. Beyond operational delivery, the group adds value through shopper
marketing and activation, advisory and training, point-of-sale and promotional support, as
well as data, technology and analytics solutions that drive smarter decisions and
measurable growth.
Every day, the group’s people are on the ground – navigating complexity, solving last-
mile challenges and ensuring products are available and visible on the shelf. With deep
insight, local roots and regional scale, CA&S turns brand ambition into market reality –
helping clients protect and grow their market share across the African retail landscape.
2. SALIENT FEATURES
The group delivered low single-digit revenue and operating profit growth for the six months
ended 30 June 2026, a resilient operational performance in a market impacted by
subdued consumer spending and the depreciation of the Botswana pula against the South
African rand.
Revenue increased by 2.2% on the prior year to R6.08 billion (H1 2025: R5.96 billion).
Gross profit increased by 2.6% to R973.93 million (H1 2025: R948.96 million).
Operating profit for the group increased by 2.3% to R342.34 million (H1 2025: R334.67
million). Earnings per share increased by 5.1% to 53.31 South African cents (“cents”) per
share (H1 2025: 50.72 cents per share).
Headline earnings increased by 6.4% to R257.13 million (H1 2025: R241.72 million).
Headline earnings per share increased by 5.9% to 53.41 cents per share (H1 2025: 50.44
cents per share).
Total assets increased by 9.1% to R6.38 billion mainly due to the expansion of warehouse
capacity in Eswatini and intangible assets arising from business combinations. Cash
resources reduced following the settlement of bank overdrafts and the funding of
acquisitions and capital expansion.
In line with its strategy, the group broadened its platform and strengthened its operating
capability through acquisitions. The group acquired a 71.19% interest in Main Street
Holdings (Pty) Ltd, the holding company of South African distributor Sunpac (Pty) Ltd
(“Sunpac”) for R204.1 million, effective 1 June 2026. Sunpac is a route-to-market partner
with specialist capability in the growing private- and confined-label category. It also
acquired a controlling stake in Pantry Club (Pty) Ltd, an e-commerce online business.
Subsequent to the reporting date, the group increased its existing shareholding in its
associates, Roots Sales (Pty) Ltd and Trapin Holdings Ltd (Tradco Group) to 64% and
55%, respectively. It also acquired a minority share in The Digital Media Consultancy (Pty)
Ltd (TDMC), a digital-marketing specialist.
No dividend has been declared for the six months ended 30 June 2026 (H1 2025: nil) as
it is the Company’s policy to only declare dividends once a year, after its year-end.
3. OUTLOOK
Management expects a stronger second half than the first, in line with the group’s normal
seasonal trading and supported by the growing contribution of the recent acquisitions
during and after the reporting period.
The group intends to keep investing through the cycle, positioning the business to emerge
stronger as consumer conditions recover. In the near term, the priority is to integrate the
recent investments and realise their value while deepening route density and growing
market share.
Alongside this, the group will pursue disciplined, client-driven expansion in East Africa
and continue to build digital, data and category capabilities that increasingly set its route-
to-market offering apart. Active management of margin, working capital and cash,
together with a strong balance sheet, gives the group the capacity to fund future growth
from its own resources.
While parts of the footprint remain exposed to currency movements and subdued
consumer spending, the breadth of the group’s markets and categories, its long-standing
client relationships and its depth of local execution underpin the board’s confidence in
navigating the balance of the year and in continuing to compound value over the longer
term.
4. SHORT-FORM ANNOUNCEMENT
This short-form announcement is the responsibility of the directors of the Company. It
contains only a summary of the information in the full announcement
(“Full Announcement”) and does not contain full or complete details. The Full
Announcement can be found at:
https://senspdf.jse.co.za/documents/2026/JSE/ISSE/CAAE/CAAHY26.pdf
A copy of the Full Announcement is also available for viewing on the Company’s website
at: https://casholdings.co.za/investor-relations/.
Any investment decisions by investors and/or shareholders should be based on
consideration of the Full Announcement, as a whole.
These interim results have not been audited, reviewed or reported on by the group’s
auditors.
Centurion
20 August 2026
JSE Sponsor
PSG Capital
BSE Sponsoring Broker
Imara Capital Securities
Date: 20/08/2026 07:00:00
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