TRADING ENVIRONMENT
The Group delivered a strong trading performance during the quarter under review, characterised by strong customer demand and sustained growth in trading volumes across its key operating markets. Relative exchange rate stability, moderating inflation in Zimbabwe and sustained economic activity supported consumer spending. The Group’s focus on delivering an attractive customer proposition through improved food quality, enhanced service standards, competitive pricing and targeted promotional initiatives continued to drive customer traffic and strengthen its market positioning.
Despite higher input costs, employee and energy expenses, the Group remained focused on enhancing the customer experience and driving operational efficiencies. Initiatives in digitisation, supply chain optimisation, solarisation and cost management supported efforts to protect margins while sustaining growth.
GROUP PERFORMANCE UPDATE FOR THE QUARTER
The Group achieved a 24% year-on-year increase in revenue in Q1 FY2027, reaching US$104.4mn. This was underpinned by a 10% increase in customer volumes to 18.5mn and a 12% improvement in average spend. The performance reflects the continued success of the Group’s volume-led growth strategy, supported by improved customer experience and increased contribution from delivery operations.
The Group added a net 40 counters between 30 September 2025 and 30 September 2026, bringing the network to 773 counters (642 company-owned and 131 franchised). A further 34 counters were refurbished as part of the ongoing store refurbishment programme, with a focus on enhancing brand standards and delivering a better customer experience.
ZIMBABWE
The Zimbabwe business delivered a strong performance, with revenue increasing by 27% year-on-year in Q1 FY2027 to US$77.6mn, supported by an 11% increase in customer volumes to 14.6mn and a 15% increase in average spend. Improved food quality, service delivery and targeted promotions drove customer traffic, while product innovation, basket meals and increased delivery contribution supported average spend.
The delivery business remained a significant growth driver, with delivery volumes increasing by 57% in Q1 FY2027 compared to the prior year. This performance was supported by continued investment in the delivery fleet, expanded customer reach and improved zoning efficiencies, further strengthening the convenience proposition and accessibility of the Group’s brands.
The store network expanded by a net 21 counters over the 12 months to 30 September 2026, comprising 29 openings and 8 closures, bringing the total to 359 counters. A further 15 counters were refurbished during the period.
The market continues to mitigate margin pressures through supply chain optimisation, supplier engagement and cost discipline. Solarisation and digitisation initiatives remain key priorities in reducing energy costs and improving operational and labour efficiencies
KENYA
Revenue increased by 15% year-on-year to US$24.1mn, with customer volumes growing by 9% to 3.6mn and average spend increasing by 5%. Growth was supported by targeted promotions and competitively priced meal combinations.
Delivery volumes grew by 33% year-on-year, driven by the expansion of the in-house delivery business, Kutuma Kenya, and third-party delivery partnerships. Delivery Net Merchandise Value contributed 32% of total market turnover, exceeding the Group’s 30% target and highlighting the growing importance of digital ordering and convenience within the Kenyan market.
The network added a net 9 counters over the 12 months to 30 September 2026, comprising 14 openings and 5 closures, bringing the total to 261 counters. A further 19 counters were refurbished during the period.
Operating margins remained under pressure from inflationary input costs and higher operating expenses.
ESWATINI
Simbisa Eswatini maintained positive trading momentum, recording a 17% year-on-year increase in revenue to US$1.8mn. Customer volumes increased by 6% to 310k, while average spend grew by 11%. Performance was supported by network expansion, improved brand visibility and targeted promotional activity.
The business added a net total of 5 new stores between 30 September 2025 and 30 September 2026, strengthening its market presence and supporting continued growth.
OUTLOOK
The Group enters the remainder of FY2027 with positive trading momentum, underpinned by strong customer demand and continued volume growth. The focus remains on sustainable, volume-led growth while protecting operating margins.
Key priorities include continual customer engagement through enhanced food quality and customer service, driving product innovation and expanding delivery, digital ordering and drive-through capabilities. Continued investment in store refurbishments will further enhance brand standards and the customer experience.
Margin protection remains central to the Group’s strategy, with ongoing initiatives in procurement, supply chain optimisation, solarisation, digitisation and labour productivity aimed at improving operating efficiencies and managing costs.
The Group remains committed to its expansion strategy. Following the opening of 13 new stores in Q1, a further 74 stores are planned for the remaining 9 months of FY2027, bringing targeted new store openings to 87 for the financial year ending 30 June 2027.
Management remains confident in the Group’s growth prospects and its ability to leverage a portfolio of strong brands and established market presence to deliver sustainable long-term value.
B Dionisio
Group Chief Executive Officer
13 November 2026
