JOHANNESBURG (Reuters) -South African budget grocery retailer Boxer reported an 11.8% fall in full-year earnings on Monday as its headline earnings per share figure was diluted by shares issued when it listed last year.
Boxer, majority owned by Pick n Pay, said HEPS came in at 413.76 cents in the 53 weeks ended March 2, down from 469.33 cents in the previous year.
When the retailer listed in November, it issued new 157.4 million shares, which Boxer pointed to as the reason for the HEPS decline.
Turnover grew by 13.2% to 42.3 billion rand ($2.32 billion), with like-for-like sales growth of 5.6%. The retailer said sales growth softened in the second half due to slowing food inflation.
Internal selling price inflation was 5.9% in the 2025 financial year, slightly down on the 6.3% reported for 2024.
Trading profit rose by 9.9% to 2.3 billion rand at a trading
margin of 5.5%.
($1 = 18.2198 rand)
(Reporting by Nqobile Dludla; Editing by Himani Sarkar, Kirsten Donovan)
