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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Boxer

BOX · A2X Markets · Incorporated in South Africa · Consolidated statements

On this page
Company details
Legal name
Boxer Retail Limited
Incorporated in
South Africa
Listing
BOX on the A2X Markets, active · ISIN ZAE000339891 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
1 March

Overview

Year ended 1 March 2026 · audited financial statements, final status not established · source

Read with these figures

  • Audited financial statements not confirmed as final. The published copy is unsigned. The FY to 1 Mar 2026 figures come from it.
Full wording and sources

  • Audited financial statements for 2026: final status not established

    The independent auditor's report of Ernst & Young Inc. to the shareholders of Boxer Retail Limited (unqualified opinion, PDF p8) closes on PDF p11 with the typeset text 'Ernst & Young Inc., Director: Matthew R Brown, Registered Auditor, Chartered Accountant (SA), 7 May 2026'; no signature is visible on the page image (name_printed_unsigned). The directors' responsibility statement (PDF p4) says the statements were approved by the board on 7 May 2026 and 'signed by' Sean Summers (Chairperson) and Marek Masojada (Chief Executive Officer); names, titles and dates are typeset with no visible signature (page image).

    Source: Boxer Retail Limited Annual Financial Statements 2026 (dated 2026-05-07)

  • Revenue

    ZAR 46.7 billion

    46,682 ZAR millions · p24

    +9.6% vs 2025

  • Operating profit / (loss)

    ZAR 2.64 billion

    2,638 ZAR millions · p24

    +14.3% vs 2025

  • Profit / (loss) for the year

    ZAR 1.56 billion

    1,556 ZAR millions · p24

    +12.5% vs 2025

  • Total assets

    ZAR 14.3 billion

    14,292 ZAR millions · p25

    +12.2% vs 2025

  • Total equity

    ZAR 3.33 billion

    3,325 ZAR millions · p25

    +71.2% vs 2025

  • Cash from operations

    ZAR 2.49 billion

    2,488 ZAR millions · p27

    Change not shown.

Large amounts are rounded for reading (ZAR million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Not shown: the prior-year figure is zero or negative.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in ZAR millions unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY to 1 Mar 2026 — audited financial statements, final status not established; reported for the year · source
  • FY to 2 Mar 2025 — audited financial statements, final status not established; comparative in the FY to 1 Mar 2026 filing · source

Income statement

Income statement, ZAR millions. Columns: FY to 1 Mar 2026 — audited financial statements (final status not established), as reported for the year; FY to 2 Mar 2025 — audited financial statements (final status not established), comparative reported in the audited financial statements for 2026.
Line (as printed) FY to 1 Mar 2026Audited financial statementsreported for the yearFY to 2 Mar 2025Audited financial statementscomparative in FY to 1 Mar 2026 filing
Revenue1 47,139 43,000
Turnover2 46,682 42,597
Cost of merchandise sold (36,610) (33,544)
Gross profit 10,072 9,053
Other trading income 390 312
Trading expenses3 (7,824) (7,057)
Employee costs (3,400) (3,079)
Occupancy costs4 (1,293) (1,182)
Operations costs5 (2,356) (2,098)
Merchandising and administration costs6 (775) (698)
Trading profit7 2,638 2,308
Finance income 67 91
Finance costs (549) (458)
Profit before tax before capital items8 2,156 1,941
Loss on capital items9 (44) (33)
Loss on disposal of assets10 (13) (13)
Loss from impairments of property, plant and equipment and intangible assets11 (16) (4)
Loss from impairment on right-of-use assets12 (15) (16)
Profit before tax 2,112 1,908
Tax (556) (525)
Profit for the period 1,556 1,383
Items that will not be reclassified to profit or loss13 –14 5
Fair value gain on investment in Pick n Pay Stores Limited15 –16 5
Items that may be reclassified to profit or loss17 (2) (1)
Movement in cash flow hedge18 (2) (1)
Total comprehensive income for the period 1,554 1,387
  1. Printed “–”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
  2. Printed “–”, read as nil: subtotal_arithmetic: is.native.co_q1qjk3dgcs44.oci_not_reclassified.
Notes and alternative reported figures (16)
  1. “Revenue” is an issuer-specific line, not mapped to a shared definition: Note 2; printed above the income statement as turnover plus other trading income plus finance income; not a step of the statement.
  2. “Turnover”: mapping to a shared definition is uncertain. Printed 'Turnover' (sales; gross profit is struck on it). The line printed 'Revenue' (47 139; 2025: 43 000) is turnover plus other trading income plus finance income and is kept as a native concept.
  3. “Trading expenses” is an issuer-specific line, not mapped to a shared definition: Subtotal of employee, occupancy, operations, merchandising and administration costs.
  4. “Occupancy costs” is an issuer-specific line, not mapped to a shared definition: Component of trading expenses.
  5. “Operations costs” is an issuer-specific line, not mapped to a shared definition: Component of trading expenses.
  6. “Merchandising and administration costs” is an issuer-specific line, not mapped to a shared definition: Component of trading expenses.
  7. “Trading profit”: mapping to a shared definition is uncertain. Printed 'Trading profit', before finance income and costs and before capital items (loss on capital items is printed below finance costs).
  8. “Profit before tax before capital items” is an issuer-specific line, not mapped to a shared definition: Trading profit plus finance income less finance costs, as printed.
  9. “Loss on capital items” is an issuer-specific line, not mapped to a shared definition: Subtotal of loss on disposal of assets and impairments.
  10. “Loss on disposal of assets” is an issuer-specific line, not mapped to a shared definition: Component of loss on capital items.
  11. “Loss from impairments of property, plant and equipment and intangible assets” is an issuer-specific line, not mapped to a shared definition: Notes 6 and 7; component of loss on capital items.
  12. “Loss from impairment on right-of-use assets” is an issuer-specific line, not mapped to a shared definition: Note 8; component of loss on capital items.
  13. “Items that will not be reclassified to profit or loss” is an issuer-specific line, not mapped to a shared definition: OCI subtotal, as printed.
  14. “Fair value gain on investment in Pick n Pay Stores Limited” is an issuer-specific line, not mapped to a shared definition: Note 13; OCI not reclassified.
  15. “Items that may be reclassified to profit or loss” is an issuer-specific line, not mapped to a shared definition: OCI subtotal, as printed.
  16. “Movement in cash flow hedge” is an issuer-specific line, not mapped to a shared definition: OCI that may be reclassified.

Balance sheet

Balance sheet, ZAR millions. Columns: FY to 1 Mar 2026 — audited financial statements (final status not established), as reported for the year; FY to 2 Mar 2025 — audited financial statements (final status not established), comparative reported in the audited financial statements for 2026.
Line (as printed) FY to 1 Mar 2026Audited financial statementsreported for the yearFY to 2 Mar 2025Audited financial statementscomparative in FY to 1 Mar 2026 filing
Property, plant and equipment 4,091 3,807
Intangible assets 324 337
Right-of-use assets 3,981 3,654
Loans1 122 126
Deferred tax asset 153 165
Non-current assets (unlabelled subtotal) 8,671 8,089
Inventory 4,267 3,378
Trade and other receivables 436 458
Cash and cash equivalents 538 466
Loans2 5 8
Right-of-return asset 4 3
Amount owing by related party3 371 331
Current assets (unlabelled subtotal) 5,621 4,644
Total assets 14,292 12,733
Share capital 8,203 8,203
Treasury shares4 (265) (205)
Retained earnings 3,587 2,142
Common control reserve5 (8,197) (8,197)
Other reserves6 (3) (1)
Total equity 3,325 1,942
Lease liabilities 4,633 4,150
Borrowings 200 850
Non-current liabilities (unlabelled subtotal) 4,833 5,000
Trade and other payables 5,201 4,755
Lease liabilities 638 647
Provisions 40 57
Deferred revenue7 143 119
Current tax liability 110 86
Amount owing to related party8 –9 127
Derivative financial instruments 2 –9
Current liabilities (unlabelled subtotal) 6,134 5,791
Total equity and liabilities 14,292 12,733
  1. Printed “–”, read as nil: subtotal_arithmetic: bs.current_liabilities.
Notes and alternative reported figures (8)
  1. “Loans” is an issuer-specific line, not mapped to a shared definition: Note 11; non-current assets.
  2. “Loans” is an issuer-specific line, not mapped to a shared definition: Note 11; current assets.
  3. “Amount owing by related party” is an issuer-specific line, not mapped to a shared definition: Note 17.1; current assets; included in cash and cash equivalents in the cash flow statement.
  4. “Treasury shares” is an issuer-specific line, not mapped to a shared definition: Note 19; equity (negative).
  5. “Common control reserve” is an issuer-specific line, not mapped to a shared definition: Equity reserve from the reorganisation under common control (negative).
  6. “Other reserves” is an issuer-specific line, not mapped to a shared definition: Equity.
  7. “Deferred revenue” is an issuer-specific line, not mapped to a shared definition: Note 23; current liabilities.
  8. “Amount owing to related party” is an issuer-specific line, not mapped to a shared definition: Note 17.2; current liabilities.

Cash flow

Cash flow, ZAR millions. Columns: FY to 1 Mar 2026 — audited financial statements (final status not established), as reported for the year; FY to 2 Mar 2025 — audited financial statements (final status not established), comparative reported in the audited financial statements for 2026.
Line (as printed) FY to 1 Mar 2026Audited financial statementsreported for the yearFY to 2 Mar 2025Audited financial statementscomparative in FY to 1 Mar 2026 filing
Trading profit1 2,638 2,308
Adjusted for non-cash items2 1,444 1,225
Depreciation on property, plant and equipment3 665 591
Amortisation on intangible assets4 19 14
Depreciation on right-of-use assets5 699 653
Share-based payment expense6 96 16
Profit on termination of leases7 (35) (42)
Amortisation of financial guarantee contract8 –9 (1)
Derecognition of financial guarantee contract10 –9 (6)
Cash generated before movements in working capital11 4,082 3,533
Movements in working capital12 (386) (78)
Movement in trade and other payables, provisions and deferred revenue13 483 146
Movement in inventory and right-of-return asset14 (891) (148)
Movement in trade and other receivables15 22 (76)
Cash generated from trading activities16 3,696 3,455
Interest paid on lease liabilities (472) (345)
Interest paid (66) (47)
Interest received 57 86
Cash generated from operations17 3,215 3,149
Dividend paid (207) (9,260)
Tax paid (520) (750)
Cash generated/(utilised) from operating activities 2,488 (6,861)
Investment in intangible assets (22) (16)
Investment in property, plant and equipment (995) (895)
Proceeds on disposal of Pick n Pay Stores Limited shares18 –19 31
Proceeds on disposal of property, plant and equipment and intangible assets20 5 12
Purchase of operations21 –19 (28)
Loans advanced by the Group22 (26) (59)
Loans repaid to the Group23 43 47
Lease incentives received24 76 74
Cash utilised in investing activities (919) (834)
Net proceeds on issue of shares*25 –26 8,157
Borrowings (repaid)/raised27 (650) 850
Share purchases28 (60) (205)
Related party loans advanced to the Group29 –26 966
Related party loans repaid by the Group30 (127) (2,347)
Principal lease liability payments (620) (613)
Cash (utilised)/generated from financing activities (1,457) 6,808
Net increase/(decrease) in cash and cash equivalents 112 (887)
Cash and cash equivalents at beginning of period31 797 1,684
Cash and cash equivalents at end of period32 909 797
  1. Printed “–”, read as nil: subtotal_arithmetic: cf.native.co_q1qjk3dgcs44.cf_non_cash_items.
  2. Printed “–”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  3. Printed “–”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (29)
  1. “Trading profit” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  2. “Adjusted for non-cash items” is an issuer-specific line, not mapped to a shared definition: Subtotal of the non-cash adjustments printed below it.
  3. “Depreciation on property, plant and equipment” is an issuer-specific line, not mapped to a shared definition: Note 6; non-cash item.
  4. “Amortisation on intangible assets” is an issuer-specific line, not mapped to a shared definition: Note 7; non-cash item.
  5. “Depreciation on right-of-use assets” is an issuer-specific line, not mapped to a shared definition: Note 8; non-cash item.
  6. “Share-based payment expense” is an issuer-specific line, not mapped to a shared definition: Note 3; non-cash item.
  7. “Profit on termination of leases” is an issuer-specific line, not mapped to a shared definition: Non-cash item.
  8. “Amortisation of financial guarantee contract” is an issuer-specific line, not mapped to a shared definition: Non-cash item.
  9. “Derecognition of financial guarantee contract” is an issuer-specific line, not mapped to a shared definition: Non-cash item.
  10. “Cash generated before movements in working capital” is an issuer-specific line, not mapped to a shared definition: Operating activities subtotal.
  11. “Movements in working capital” is an issuer-specific line, not mapped to a shared definition: Subtotal of the three working-capital lines printed below it.
  12. “Movement in trade and other payables, provisions and deferred revenue” is an issuer-specific line, not mapped to a shared definition: Working capital.
  13. “Movement in inventory and right-of-return asset” is an issuer-specific line, not mapped to a shared definition: Working capital.
  14. “Movement in trade and other receivables” is an issuer-specific line, not mapped to a shared definition: Working capital.
  15. “Cash generated from trading activities” is an issuer-specific line, not mapped to a shared definition: Operating activities subtotal before interest.
  16. “Cash generated from operations”: mapping to a shared definition is uncertain. Printed 'Cash generated from operations' after lease and other interest paid and interest received; 'Cash generated from trading activities' (native) is the subtotal before them.
  17. “Proceeds on disposal of Pick n Pay Stores Limited shares” is an issuer-specific line, not mapped to a shared definition: Note 13; investing activities.
  18. “Proceeds on disposal of property, plant and equipment and intangible assets”: mapping to a shared definition is uncertain. Printed as one line covering property, plant and equipment and intangible assets.
  19. “Purchase of operations” is an issuer-specific line, not mapped to a shared definition: Note 29; investing activities.
  20. “Loans advanced by the Group” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  21. “Loans repaid to the Group” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  22. “Lease incentives received” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  23. “Net proceeds on issue of shares*” is an issuer-specific line, not mapped to a shared definition: Note 18; financing; net of transaction costs of R343 million (footnote).
  24. “Borrowings (repaid)/raised” is an issuer-specific line, not mapped to a shared definition: Note 20; financing; net movement as printed.
  25. “Share purchases” is an issuer-specific line, not mapped to a shared definition: Note 19; financing activities.
  26. “Related party loans advanced to the Group” is an issuer-specific line, not mapped to a shared definition: Note 17; financing activities.
  27. “Related party loans repaid by the Group” is an issuer-specific line, not mapped to a shared definition: Note 17; financing activities.
  28. “Cash and cash equivalents at beginning of period”: mapping to a shared definition is uncertain. Includes the amount owing by related party (2025 closing: cash and cash equivalents 466 plus amount owing by related party 331 = 797).
  29. “Cash and cash equivalents at end of period”: mapping to a shared definition is uncertain. Comprising cash and cash equivalents 538 and amount owing by related party 371 (2025: 466 + 331), as printed (p27).

Per share and shares

Per share and shares. Columns: FY to 1 Mar 2026 — audited financial statements (final status not established), as reported for the year; FY to 2 Mar 2025 — audited financial statements (final status not established), comparative reported in the audited financial statements for 2026.
Line (as printed) FY to 1 Mar 2026Audited financial statementsreported for the yearFY to 2 Mar 2025Audited financial statementscomparative in FY to 1 Mar 2026 filing
Earnings / (loss) per share (per share)41 3.43502 4.06703
  1. Printed as 343.50 Cents; value converted to ZAR at 100 Cents = 1 ZAR.
  2. Printed as 406.70 Cents; value converted to ZAR at 100 Cents = 1 ZAR.
Notes and alternative reported figures (2)
  1. “Basic earnings per share”: mapping to a shared definition is uncertain. Basic earnings per share (343.50 cents; 2025: 406.70); diluted is printed separately and differs (340.19; 2025: 405.51), kept as a native concept.
  2. Earnings / (loss) per share: printed as “Basic earnings per share”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
1 Mar 2026 Dividends paid (cash flow statement) Dividend paid (207) ZAR millions Audited financial statements, p27
2 Mar 2025 Dividends paid (cash flow statement) Dividend paid (9,260) ZAR millions Audited financial statements, p27

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Boxer Retail Limited Annual Financial Statements 2026

    Year ended 1 March 2026 · Audited financial statements · final status not established

    Audit: Ernst & Young Inc., unmodified opinion

    Auditor's sign-off: Ernst & Young Inc., Director: Matthew R Brown, Registered Auditor, Chartered Accountant (SA) (typeset; no visible signature)

    Final status: The independent auditor's report of Ernst & Young Inc. to the shareholders of Boxer Retail Limited (unqualified opinion, PDF p8) closes on PDF p11 with the typeset text 'Ernst & Young Inc., Director: Matthew R Brown, Registered Auditor, Chartered Accountant (SA), 7 May 2026'; no signature is visible on the page image (name_printed_unsigned). The directors' responsibility statement (PDF p4) says the statements were approved by the board on 7 May 2026 and 'signed by' Sean Summers (Chairperson) and Marek Masojada (Chief Executive Officer); names, titles and dates are typeset with no visible signature (page image).

    Document date
    7 May 2026
    Auditor's report
    7 May 2026
    Board approval
    7 May 2026
    Retrieved by us
    17 Oct 2026 (not a publication date)
    Used for
    statement columns FY to 1 Mar 2026, FY to 2 Mar 2025
    Basis
    consolidated statements · ZAR millions (printed “Rm”)
    • 'Revenue' (47 139; 2025: 43 000) is printed above the income statement as turnover plus other trading income plus finance income; gross profit is struck on 'Turnover' (p24), which is mapped to revenue (ambiguous). 'Trading profit' is mapped to operating profit; capital items are printed below finance costs. No other-comprehensive-income total is printed; its two printed subtotals are transcribed within total comprehensive income. Basic (343.50 cents; 2025: 406.70) and diluted (340.19; 2025: 405.51) earnings per share are printed separately.
    • The statement of financial position prints unlabelled subtotals for non-current assets, current assets, non-current liabilities and current liabilities and no total-liabilities line (p25). Cash and cash equivalents in the cash flow statement comprise cash and cash equivalents plus the amount owing by related party (909 = 538 + 371; 2025: 797 = 466 + 331) (p27). Dividends paid and interest are presented within operating activities.
    • The comparative column of the Group statement of comprehensive income is headed 'Restated* 53 weeks to 02 March 2025' (p24). Footnote: 'Comparative figures have been restated to correct for the turnover related to certain articles where system mapping erroneously resulted in turnover being presented within cost of merchandise sold. The reclassification increased prior period revenue, turnover and cost of merchandise sold by R253 million, with no net impact on previously reported profit.'
    • 52 weeks to 01 March 2026; comparative 53 weeks to 02 March 2025 (p24, accounting policy 1.1 p28). Comparability of the duration figures is affected by the extra week.
    Technical details
    File
    89 pages, with a text layer
    SHA-256
    3da8656961219ca9301ed71a2713ab4a0169d483f75f21486a6ec827bb7d76e5
    Entity as printed
    Boxer Retail Limited and its subsidiaries ('the group') and company (auditor's report, PDF p8)
    Issuer copy
    retrieved 2026-10-17T13:53:26Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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South Africa country page · Company methodology and coverage