CA&S posts resilient interim results, expands into East Africa with Tradco stake

FMCG route-to-market group reports revenue growth and stronger earnings for six months to June, backed by capacity building and Kenyan acquisition

CA Sales Holdings Limited (CA&S), the fast-moving consumer goods route-to-market group operating across Southern and East Africa, has delivered a solid set of interim results for the six months ended 30 June 2025, underpinned by organic growth, acquisitions and expansion into new markets.

Revenue grew 4.0% to R5.96 billion compared with R5.73 billion in the same period last year. Gross profit improved 9.0% to R948.96 million, while operating profit increased 9.6% to R334.67 million. Earnings per share advanced 15.5% to 50.72 cents, with headline earnings up 16.9% to R241.72 million and headline earnings per share increasing by 16.1% to 50.44 cents per share. A lower withholding tax charge, on dividends from Botswana, contributed to the improved headline performance.

Total assets expanded by 16.3% to R5.85 billion, reflecting investment in warehouse capacity, business combinations and associates, working capital, as well as higher cash resources, which rose from R1.05 billion to R1.29 billion.

In February, CA&S strengthened its East African presence with the acquisition of a 35% stake in Trapin Holdings Limited (Tradco), a Kenya-based route-to-market business with operations across multiple countries in the region. The R108.4 million transaction broadens the group’s service offering to existing clients and provides access to a market identified as central to its long-term growth ambitions.

Chief executive Duncan Lewis said the results reflect the resilience of the group’s operating model. “We are encouraged by the performance in the first half of the year, which demonstrates the value of our diversified footprint and disciplined financial management. The investment in Tradco positions us to capture new opportunities in East Africa, where demand for consumer goods and reliable route-to-market solutions is growing rapidly,” he said.

While no interim dividend was declared, in line with company policy, the group maintained a positive outlook for the remainder of the year. Management noted that Southern and East Africa continue to offer growth opportunities, supported by rising urbanisation, infrastructure development and economic diversification.

“We remain conscious of the challenges surrounding cost control and the need for targeted strategic investment. Through disciplined financial management, we are well placed to capitalise on opportunities that will secure the long-term success of CA&S,” concluded Lewis.

The interim results have not been audited, reviewed or reported on by the company’s auditors.