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Audited Results for the Year ended 31 December 2025 and Dividend Declaration
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")
AUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2025 AND DIVIDEND DECLARATION
1. NATURE OF BUSINESS
CA&S is an Africa-focused group of route-to-market specialists, with a dual listing on the
BSE and the 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
Revenue increased by 2.3% to R12.81 billion, from R12.52 billion in the prior
corresponding year. In an environment characterised by constrained consumer activity,
the group's ability to achieve topline growth reflects the successful onboarding of new
clients through a continued focus on expanding its client portfolio.
Effective cost containment and increased income from associates as a result of the
acquisition of the Tradco Group in East Africa, bolstered profitability. Operating profit
increased by 10.0% to R860.88 million, from 782.57 million in the prior corresponding
year.
Earnings per share ("EPS") increased by 13.4% to 143.95 South African cents ("cents")
per share, from 126.89 cents per share in the prior corresponding year.
Headline earnings per share ("HEPS") increased by 17.1% to 143.72 cents per share,
from 122.71 cents per share in the prior corresponding year.
Total assets increased by 11.7% to R6.31 billion mainly due to the increased investment
in associates explained above, and increased cash resources from R1.17 billion to
R1.45 billion on 31 December 2025, derived from operating activities.
Final gross ordinary share cash dividend per share increased by 17.4% to 28.69 cents
per share, from 24.44 cents per share in the prior corresponding year.
3. DIVIDEND DECLARATION
Notice is hereby given that the final gross ordinary share cash dividend of 28.69 cents
(2024: 24.44 cents) (or Botswana thebe equivalent) per share in respect of the year ended
31 December 2025 was declared by the board, from income reserves, on Thursday, 26
March 2026. In line with the group's dividend policy, the dividend was maintained at 20%
of the headline earnings. The dividend declaration salient dates are as follows:
Declaration date Thursday, 26 March 2026
Finalisation date Tuesday, 7 April 2026
Last day to trade cum dividend Tuesday, 14 April 2026
Trading ex-dividend commences Wednesday, 15 April 2026
Record date Friday, 17 April 2026
Payment date Monday, 20 April 2026
To facilitate settlement of the dividend to shareholders on the South African share register,
share certificates may not be dematerialised or rematerialised between Wednesday, 15
April 2026 and Friday, 17 April 2026, both dates inclusive. Shares cannot be moved
between the South African share register and the Botswana share register and no such
transfers of shares between the South African share register and the Botswana share
register shall be registered, between Tuesday, 7 April 2026 and Friday, 17 April 2026,
both days inclusive.
For shares held on the South African share register, the cash consideration in itself will
be exempt from income tax as it constitutes a dividend. The cash consideration will
generally give rise to a liability for dividends tax at the rate of 20% in accordance with the
Income Tax Act, No. 58 of 1962, as amended. A shareholder who does not qualify for an
exemption from the dividends tax will receive a net dividend of 22.952 cents per share.
The exchange rate applicable for the conversion of South African rand to Botswana pula,
tax implications and other information on the payment to shareholders on the Botswana
share register will be confirmed in a separate announcement to be released on BSE X-
news and the JSE SENS on Tuesday, 7 April 2026, being the finalisation date.
Shareholders must take individual advice as to applicable taxes.
The number of issued shares at the declaration date is 481 218 764. The tax registration
number of the Company is 9390266170.
The dividend is paid from South Africa.
4. OUTLOOK
Our geographical expansion in priority markets is predominantly client-led. In parallel, we
will broaden our product and service portfolio through complementary offerings that
strengthen our value proposition.
Digital transformation remains a strategic priority, enabling improved data insight, service
execution and operational consistency across territories. Continued focus on operational
efficiency will remain critical as we scale the business while maintaining effective cost
management, ensuring we remain future fit.
Our diversified geographic footprint provides both resilience and growth opportunity,
supported by strong local leadership, long-standing client relationships and deep market
understanding.
Our priorities remain clear, and we will continue to approach execution with the same
discipline that has supported the group's long-term growth.
5. SHORT-FORM ANNOUNCEMENT
The information in this short-form results announcement has been extracted from the full
announcement and the audited consolidated financial statements, but the short-form
results announcement itself was not audited.
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/CAAFY25.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.
The consolidated annual financial statements were audited by the group's auditors,
Deloitte & Touche, who expressed an unmodified audit opinion thereon. The full audit
opinion, including any key audit matters, is available on the group's website at
https://casholdings.co.za/results-reports/ together with the group annual financial
statements.
Centurion
26 March 2026
JSE Sponsor BSE Sponsoring Broker
PSG Capital Imara Capital Securities
Date: 26-03-2026 09:00:00
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