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Condensed Consolidated Financial Results and Dividend Declaration for the six months ended 31 March 2026
KAL GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
Share code: KAL
ISIN: ZAE000244711
("KAL", the "Company" or the "Group")
CONDENSED CONSOLIDATED FINANCIAL RESULTS AND DIVIDEND DECLARATION FOR THE SIX MONTHS ENDED 31 MARCH 2026
1. SALIENT FEATURES
Revenue of R11.36 billion. Increased by 5.0% (31 March 2025: R10.82 billion).
Gross profit R1.81 billion, increased by 8.8% (31 March 2025: R1.66 billion).
EBITDA R599.7 million, increased by 7.7% (31 March 2025: R557.1 million).
Earnings per share 513.87 cents per share, increased by 30.3% (31 March 2025: 394.29
cents per share).
Headline earnings per share 441.36 cents per share, increased by 12.5% (31 March 2025:
392.47 cents per share).
Recurring headline earnings per share 453.25 cents per share, increased by 15.1%
(31 March 2025: 393.65 cents per share).
Net cash from operating activities R575.2 million, increased by 3.9% (31 March 2025: R553.6
million).
Net interest-bearing debt to equity improved to 32.9% (31 March 2025: 48.4%).
Interim dividend 70.00 cents per share, increased by 25.0% (31 March 2025: 56.00 cents per
share).
2. DIVIDEND DECLARATION
A gross interim dividend of 70.00 cents per share, an increase of 25.0%, (2025: 56.00 cents
per share) has been approved and declared by the board of directors of the Group, from
income reserves, for the six months ended 31 March 2026. The interim dividend amount, net
of South African dividends tax of 20%, is 56.00 cents per share for those shareholders not
exempt from dividend tax or who are not entitled to a reduced rate in terms of the applicable
double tax agreement.
The salient dates for this dividend distribution are:
Declaration date Thursday, 14 May 2026
Last day to trade cum dividend Tuesday, 9 June 2026
Trading ex-dividend commences Wednesday, 10 June 2026
Record date to qualify for dividend Friday, 12 June 2026
Date of payment Monday, 15 June 2026
Share certificates may not be dematerialised or rematerialised between Wednesday,
10 June 2026 and Friday, 12 June 2026, both days inclusive.
The number of ordinary shares in issue at declaration date is 74 319 837, the income tax
number of KAL is 9312717177 and the Company registration number is 2011/113185/06.
3. SHORT-FORM ANNOUNCEMENT
This short-form announcement ("Results Announcement") is the responsibility of the
directors of the Company. It contains only a summary of the information in the condensed
consolidated financial results for the six months ended 31 March 2026 ("Results") and does
not contain full or complete details. The Results can be found at
https://senspdf.jse.co.za/documents/2026/JSE/ISSE/KALE/KALMar26.pdf
A copy of the Results is also available for viewing on the Company's website at
https://www.kalgroup.co.za/s3/interim-results-31-mar-26.pdf
Shareholders are reminded that the Company will be hosting a webcast at 12:00 pm today,
Thursday 14 May 2026, to present the Results to shareholders and the market.
For shareholders' convenience, the webcast registration details and link are included below:
- View and listen mode, with a Q&A facility
- Link: https://www.corpcam.com/KALGroup14052026
Any investment decisions by investors and/or shareholders should be based on
consideration of the Results, as a whole.
The content of this Results Announcement and the Results have not been audited or
reviewed by the Company's auditors.
Paarl
14 May 2026
Sponsor
PSG Capital
Date: 14-05-2026 08:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Trading Statement
KAL GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
Share code: KAL
ISIN: ZAE000244711
(the "Company")
TRADING STATEMENT
In terms of the JSE Listings Requirements, a listed company is required to publish a trading
statement as soon as it is satisfied that a reasonable degree of certainty exists that the
financial results for the financial period to be reported on next will differ by 20% or more from
those of the previous comparable period.
The Company advises that a reasonable degree of certainty exists that for the six-month
period ending 31 March 2026 ("Period"):
- Recurring headline earnings per share ("RHEPS") will be between 445.38 cents and
461.12 cents, representing an increase of between 13.1% and 17.1% compared to the
RHEPS of 393.65 cents reported for the six months ended 31 March 2025
("Prior Period"); and
- Headline earnings per share ("HEPS") will be between 433.51 cents and 449.21 cents,
representing an increase of between 10.5% and 14.5% compared to the HEPS of
392.47 cents reported for the Prior Period; and
- Earnings per share ("EPS") will be between 505.98 cents and 521.76 cents, representing
an increase of between 28.3% and 32.3% compared to the EPS of 394.29 cents reported
for the Prior Period.
HEPS for the Period increased mainly due to strong gross profit growth resulting from a 4.8%
increase in retail revenue, a 7.4% increase in agri input revenue and a 6.7% increase in fuel
volume sales.
EPS for the Period increased by a larger margin than HEPS for the Period, mainly as a result
of the inclusion of the profit on disposal of Agriplas (Pty) Ltd, which is not included in headline
earnings. The closing of the disposal of Agriplas (Pty) Ltd was communicated to shareholders
via the JSE's Stock Exchange News Service on 16 February 2026.
The financial information on which this trading statement is based has not been reviewed or
reported on by the auditor of the Company. The unaudited results for the Period are expected
to be published on or about 14 May 2026.
Paarl
4 May 2026
Sponsor
PSG Capital
Date: 04-05-2026 11:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Announcement of Results and Webcast
KAL GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
Share code: KAL
ISIN: ZAE000244711
("KAL" or "the Company")
ANNOUNCEMENT OF RESULTS AND WEBCAST
Shareholders are advised that KAL intends to release its interim financial results for the six
months ended 31 March 2026 on Thursday, 14 May 2026.
The Company will be hosting a webcast at 12:00 pm on Thursday, 14 May 2026, to present
the results to shareholders and the market. To register for the webcast, please follow the
below link.
Webcast details:
- View and listen mode, with a Q&A facility
- Link: https://www.corpcam.com/KALGroup14052026
Paarl
30 April 2026
Sponsor
PSG Capital
Date: 30-04-2026 12:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Dealing In KAL Group Shares
KAL GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
Share code: KAL
ISIN: ZAE000244711
("KAL Group")
DEALING IN KAL GROUP SHARES
In compliance with the JSE Listings Requirements, the following information regarding the
dealing in securities is disclosed:
1.
NAME OF DIRECTOR Johann Le Roux
COMPANY OF WHICH A DIRECTOR KAL Group Limited
STATUS: EXECUTIVE/NON-EXECUTIVE Executive director
TYPE AND CLASS OF SECURITIES Ordinary shares
NATURE OF DEALING Purchase of shares by an associate of
a director (on-market dealing)
DATE OF DEALING 24 March 2026
PRICE PER SECURITY R43.00
NUMBER OF SECURITIES TRADED 11 500
TOTAL RAND VALUE OF SECURITIES R494,500.00
TRADED
NAME OF THE ASSOCIATE Bakenskraal Investments (Pty) Ltd
RELATIONSHIP WITH THE ASSOCIATE The director is a director of the associate,
as well as a trustee and beneficiary of the
shareholder of the associate
NATURE AND EXTENT OF INTEREST IN Indirect, beneficial
THE DEALING
2.
NAME OF DIRECTOR Graeme Wayne Sim
COMPANY OF WHICH A DIRECTOR KAL Group Limited
STATUS: EXECUTIVE/NON-EXECUTIVE Executive director
TYPE AND CLASS OF SECURITIES Ordinary shares
NATURE OF DEALING Purchase of shares by a director
(on-market dealing)
DATE OF DEALING 24 March 2026
PRICE PER SECURITY R42.80
NUMBER OF SECURITIES TRADED 2 400
TOTAL RAND VALUE OF SECURITIES R102,720.00
TRADED
NATURE AND EXTENT OF INTEREST IN Direct, beneficial
THE DEALING
Clearance for the above was obtained in terms of the JSE Listings Requirements.
Paarl
25 March 2026
Sponsor
PSG Capital
Date: 25-03-2026 02:40:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Dealing In KAL Group Shares
KAL GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
Share code: KAL
ISIN: ZAE000244711
("KAL Group")
DEALING IN KAL GROUP SHARES
In compliance with the JSE Listings Requirements, the following information regarding the
dealing in securities is disclosed:
NAME OF DIRECTOR CA Otto
COMPANY OF WHICH A DIRECTOR KAL Group Limited
STATUS: EXECUTIVE/NON-EXECUTIVE Non-Executive director
TYPE AND CLASS OF SECURITIES Ordinary shares
NATURE OF DEALING Purchase of shares by a director
(on-market dealing)
DATE OF DEALING 16 March 2026
PRICE PER SECURITY R44.49
NUMBER OF SECURITIES TRADED 1 400
TOTAL RAND VALUE OF SECURITIES R62,286.00
TRADED
NATURE AND EXTENT OF INTEREST IN Direct, beneficial
THE DEALING
Clearance for the above was obtained in terms of the JSE Listings Requirements.
Paarl
20 March 2026
Sponsor
PSG Capital
Date: 20-03-2026 10:20:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Dealing In KAL Group Shares
KAL GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
Share code: KAL
ISIN: ZAE000244711
("KAL Group")
DEALING IN KAL GROUP SHARES
In compliance with the JSE Listings Requirements, the following information regarding the
dealing in securities is disclosed:
NAME OF DIRECTOR Johann Le Roux
COMPANY OF WHICH A DIRECTOR KAL Group Limited
STATUS: EXECUTIVE/NON-EXECUTIVE Executive director
TYPE AND CLASS OF SECURITIES Ordinary shares
NATURE OF DEALING Purchase of shares by a director
(on-market dealing)
DATE OF DEALING 9 March 2026
PRICE PER SECURITY High: R44.50
Low: R44.40
VWAP: R44.4404
NUMBER OF SECURITIES TRADED 22 400
TOTAL RAND VALUE OF SECURITIES R995,465.93
TRADED
NAME OF THE ASSOCIATE Bakenskraal Investments (Pty) Ltd
RELATIONSHIP WITH THE ASSOCIATE The director is a director of the associate,
as well as a trustee and beneficiary of the
shareholder of the associate
NATURE AND EXTENT OF INTEREST IN Indirect, beneficial
THE DEALING
Clearance for the above was obtained in terms of the JSE Listings Requirements.
Paarl
10 March 2026
Sponsor
PSG Capital
Date: 10-03-2026 01:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Eswatini Competition Commission Approval of the Disposal of Agriplas Proprietary Limited
KAL GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
Share code: KAL
ISIN: ZAE000244711
("the Company")
ESWATINI COMPETITION COMMISSION APPROVAL OF THE DISPOSAL OF AGRIPLAS
PROPRIETARY LIMITED
Shareholders are referred to the various announcements released on the JSE's Stock
Exchange News Service on 22 September 2025, 2 February 2026 and 16 February 2026,
respectively, with the latter relating to the closing of the disposal of Agriplas Proprietary Limited
("Closing Announcement").
The Company is pleased to advise shareholders that the Eswatini Competition Commission
has approved the Sale Transaction, as defined in the Closing Announcement.
All suspensive conditions have now been fulfilled and, accordingly, the disposal has become
unconditional and will now also be implemented in the territory of the Kingdom of Eswatini.
Paarl
10 March 2026
Transaction Advisor and Transaction Sponsor
Valeo Capital (Pty) Ltd
Legal Advisor
Andersen South Africa
Sponsor
PSG Capital
Date: 10-03-2026 12:55:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Dealing In KAL Group Shares
KAL GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
Share code: KAL
ISIN: ZAE000244711
("KAL Group")
DEALING IN KAL GROUP SHARES
In compliance with the JSE Listings Requirements, the following information regarding the
dealing in securities is disclosed:
NAME OF DIRECTOR Johann Le Roux
COMPANY OF WHICH A DIRECTOR KAL Group Limited
STATUS: EXECUTIVE/NON-EXECUTIVE Executive director
TYPE AND CLASS OF SECURITIES Ordinary shares
NATURE OF DEALING Purchase of shares by a director
(on-market dealing)
DATE OF DEALING 3 March 2026
PRICE PER SECURITY High: R45.00
Low: R44.74
VWAP: R44.9823
NUMBER OF SECURITIES TRADED 22 000
TOTAL RAND VALUE OF SECURITIES R989,610.60
TRADED
NAME OF THE ASSOCIATE Bakenskraal Investments (Pty) Ltd
RELATIONSHIP WITH THE ASSOCIATE The director is a director of the associate,
as well as a trustee and beneficiary of the
shareholder of the associate
NATURE AND EXTENT OF INTEREST IN Indirect, beneficial
THE DEALING
Clearance for the above was obtained in terms of the JSE Listings Requirements.
Paarl
5 March 2026
Sponsor
PSG Capital
Date: 05-03-2026 04:16:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Dealing in KAL Group Shares
KAL GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
Share code: KAL
ISIN: ZAE000244711
("KAL Group")
DEALING IN KAL GROUP SHARES
In compliance with paragraphs 6.77 to 6.89 of the JSE Limited Listings Requirements, the
following information regarding the dealing in securities is disclosed:
NAME OF DIRECTOR Johann Le Roux
COMPANY OF WHICH A DIRECTOR KAL Group Limited
STATUS: EXECUTIVE/NON-EXECUTIVE Non-executive director
TYPE AND CLASS OF SECURITIES Ordinary shares
NATURE OF DEALING Purchase of shares by a director
(on-market dealing)
DATE OF DEALING 26 February 2026
PRICE PER SECURITY High: R46.50
Low: R46.45
VWAP: R46.4970
NUMBER OF SECURITIES TRADED 12 760
TOTAL RAND VALUE OF SECURITIES R593,302.00
TRADED
NAME OF THE ASSOCIATE Bakenskraal Investments (Pty) Ltd
RELATIONSHIP WITH THE ASSOCIATE The director is a director of the associate,
as well as a trustee and beneficiary of the
shareholder of the associate
NATURE AND EXTENT OF INTEREST IN Indirect, beneficial
THE DEALING
Clearance for the above was obtained in terms of paragraph 6.83 of the JSE Limited Listings
Requirements.
Paarl
27 February 2026
Sponsor
PSG Capital
Date: 27-02-2026 12:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Dealing in KAL Group Shares
KAL GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
Share code: KAL
ISIN: ZAE000244711
("KAL Group")
DEALING IN KAL GROUP SHARES
In compliance with paragraphs 6.77 to 6.89 of the JSE Limited Listings Requirements, the
following information regarding the dealing in securities is disclosed:
NAME OF DIRECTOR Johann Le Roux
COMPANY OF WHICH A DIRECTOR KAL Group Limited
STATUS: EXECUTIVE/NON-EXECUTIVE Non-executive director
TYPE AND CLASS OF SECURITIES Ordinary shares
NATURE OF DEALING Purchase of shares by a director
(on-market dealing)
DATE OF DEALING 24 February 2026
PRICE PER SECURITY High: R47.00
Low: R46.50
VWAP: R46.9441
NUMBER OF SECURITIES TRADED 21 300
TOTAL RAND VALUE OF SECURITIES R999,909.33
TRADED
NAME OF THE ASSOCIATE Bakenskraal Investments (Pty) Ltd
RELATIONSHIP WITH THE ASSOCIATE The director is a director of the associate,
as well as a trustee and beneficiary of the
shareholder of the associate
NATURE AND EXTENT OF INTEREST IN Indirect, beneficial
THE DEALING
Clearance for the above was obtained in terms of paragraph 6.83 of the JSE Limited Listings.
Paarl
26 February 2026
Sponsor
PSG Capital
Date: 26-02-2026 03:15:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.