Johannesburg, South Africa, 26 March 2026.
CA&S, the Africa-focused group of FMCG route-to-market specialists listed on both the JSE Limited and the Botswana Stock Exchange, today reported a resilient financial performance for the year ended 31 December 2025, underscored by earnings growth, disciplined cost management and ongoing regional expansion. The Board has declared a 17.4% increase in final dividend, reflecting the Group’s continued ability to generate cash and supportshareholder returns.
Through its portfolio of specialist FMCG services businesses, CA&S plays a critical behind-the-scenes role for many of the world’s most recognised brands – ensuring their products are available and visible on shelf and ultimately making their way into shoppers’ baskets across Southern and East Africa, where strong execution and deep local insight are essential.
Robust Financial Performance
| Metric | FY25 | FY24 | Change |
|---|---|---|---|
| Revenue (R bn) | 12.81 | 12.52 | +2.3% |
| Operating Profit (R mn) | 860.88 | 782.57 | +10.0% |
| Earnings per Share (cents) | 143.95 | 126.89 | +13.4% |
| Headline Earnings Per Share (cents) | 143.72 | 122.71 | +17.1% |
| Dividend per share (cents) | 28.69 | 24.44 | +17.4% |
| ROIC | 21.2% | 20.9% | — |
Group revenue increased 2.3% to R12.81 billion, supported by the successful onboarding of new clients in an environment where consumer spending remained constrained. Operating profit rose 10% to R860.88 million, buoyed by tight cost control and increased contribution from associates following CA&S’s investment in the Tradco Group in East Africa.
Headline earnings per share grew 17.1% to 143.72 cents, while earnings per share increased 13.4% to 143.95 cents. Total assets ended the year 11.7% higher at R6.31 billion, driven largely by increased associate investments and stronger cash resources, which rose from R1.17 billion to R1.45 billion on the back of robust operating cash flow.
The Board declared a final gross dividend of 28.69 cents per share, up 17.4% from the prior year and in line with the Group’s policy of paying out 20% of headline earnings.
Strategic Progress Across Africa
CA&S’s strategy continues to be shaped by client needs and the growing demand for integrated route-to-market partners in Africa’s evolving retail environment.
• Expansion in East Africa: The Group’s 35% stake in Trapin Holdings Ltd (Tradco Group) is strengthening CA&S’s presence in Kenya, Uganda and Tanzania – markets experiencing rising formal retail penetration and increased brand activity.
• Infrastructure Investment: A R300 million capital investment was approved in Eswatini to develop land and buildings that will improve operational capacity and long-term efficiency across the region.
• Post-Year-End Acquisition: CA&S has acquired a majority stake in Sunpac (Pty) Ltd, a South African distributor serving leading personal care brands. Sunpac’s strong capabilities in category management and its exposure to the rapidly expanding private and confined label segment deepen CA&S’s value proposition to retailers and brand owners alike.
Focused on Growth, Efficiency and Digital Enablement
Commenting on the group’s results CA&S group CEO Duncan Lewis said: “Digital transformation remains a central focus for the Group as it looks to enhance data insight, service consistency and execution across territories. At the same time, CA&S continues to prioritise operational efficiency to support scalable, profitable growth.
The Group’s diversified footprint – spanning ten African countries and multiple categories – provides a balance of resilience and opportunity, supported by long-standing client partnerships and strong local market leadership.”
About CA&S Group
CA&S is an Africa-focused group of FMCG route-to-market specialists listed on both the JSE Limited and the Botswana Stock Exchange. The Group partners with global and regional brand owners to connect their products to retailers and consumers across Southern and East Africa.
Through its portfolio of specialist services businesses, CA&S provides integrated route-to-market solutions for many of the world’s most recognised brands – ensuring their products are available, visible and performing on shelf, and ultimately making their way into shoppers’ baskets. Combining regional scale with deep local market expertise and data insights the group helps brands grow market share, navigate complex retail environments and deliver sustainable growth across Africa.