CA&S delivers resilient interim results as acquisitions drive expansion across Southern and East Africa

Africa-focused route-to-market group reports revenue up 2.2% to R6.08 billion and headline earnings per share up 5.9% for the six months ended 30 June 2026, as it broadens its platform through targeted acquisitions.

CA Sales Holdings Limited ("CA&S"), the Africa-focused group of route-to-market specialists dual-listed on the Botswana Stock Exchange (BSE) and the Johannesburg Stock Exchange (JSE), today reported single-digit growth in revenue and operating profit 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 rand.

"This was a resilient set of results in a period where consumer spending remained under pressure and currency movements added complexity, particularly in Botswana. Disciplined execution and a continued focus on operational efficiencies helped us navigate these conditions and continue to execute on behalf of clients and customers," said Duncan Lewis, Chief Executive Officer of CA&S. "We also made further progress broadening our platform. The acquisitions concluded during and after the period strengthen our capability in private- and confined-label distribution, e-commerce and digital offering, and position us to deepen route density and grow market share as we move into our stronger trading period."

In line with its strategy, the group broadened its platform and strengthened its operating capability through a series of acquisitions. During the period, it acquired a 71.1% interest in South African distributor Sunpac, 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, an e-commerce business.

Subsequent to the reporting date, the group increased its existing shareholding in associates Roots Sales and Tradco Group, its East Africa business, to 64% and 55% respectively. It also acquired a minority interest in TDMC, a digital-marketing specialist.

No interim dividend has been declared for the six months ended 30 June 2026 (H1 2025: nil), in keeping with the company's policy of declaring dividends once a year, after its financial year-end.

"We expect a stronger second half than the first, in line with the group's normal seasonal trading pattern and supported by the growing contribution of recent acquisitions made during and after the reporting period. The group intends to keep investing through the cycle, positioning the business to emerge stronger as trading conditions recover. In the near term, our priority is to integrate recent investments and realise their value, while deepening route density and growing market share," concluded Duncan Lewis.

Alongside this, the group will pursue disciplined, client-driven expansion in East Africa and continue to build the 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 group's footprint remain exposed to currency movements and subdued consumer spending, the breadth of its markets and categories, its long-standing client relationships and its depth of local execution position it well to navigate the balance of the year with confidence and to continue compounding value for shareholders over the longer term.