Half Year 2026 Boxer Retail Ltd Earnings Call Transcript

Oct 13, 2025 / 06:30 AM GMT

Transcript

Key Points

Positve

Boxer Retail Ltd (JSE:BOX) reported a turnover of 22.5 billion rand, representing a total growth of 13.9% and a like-for-like growth of 5.3%.
The company opened 25 new stores in the first half, contributing to a total store count of 547, with plans to open 60 stores by the end of the year.
Boxer Retail Ltd (JSE:BOX) achieved a trading profit of 931 million rand, an increase of 15.1%, maintaining a stable trading margin of 4.1%.
The company declared its inaugural dividend of 45.03 rand per share, representing a 40% payout ratio of headline earnings per share.
Boxer Retail Ltd (JSE:BOX) has grown its Boxer Rewards Club to 2.3 million members, enhancing customer loyalty and engagement.

Negative

The transition to being a listed entity introduced higher costs, with 57 million rand in new expenses impacting trading profit growth.
Net finance charges increased significantly by 79.1%, primarily due to a swing in funding costs post-IPO.
The new Tonga Distribution Center is expected to cause a short-term dilution in supply chain efficiency, impacting trading margins by 0.1%.
Boxer Retail Ltd (JSE:BOX) faced challenges in the chicken and protein categories due to supply disruptions, impacting stock availability during key promotional periods.
The company closed three stores during the period, including a superstore and its adjacent liquor store due to security concerns in the area.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BOXJ.J - Boxer Retail Ltd
Half Year 2026 Boxer Retail Ltd Earnings Call
Oct 13, 2025 / 06:30AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to our boxer results presentation for the 1st 6 months of our financial year ending February 2026.

I am Marek Masada, the CEO of Boxer, and with me is my colleague, our CFO David Wayne.

We are presenting to you this morning from our boxer head office situated at Westville in KwaZulu-Natal.

Today's presentation is made up of 4 parts.

Firstly, I will give a high-level overview of the highlights of our performance for the period, followed by David presenting a more detailed look at the financial results.

I will then give an update on progress made on some of our strategic initiatives, our plans, and our outlook for the second half of the year.

And finally,

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