Board Dashboard

Data as at Monday 6 July 2026, 12:00 SAST · Matrix (ops) & Sage Evolution (financials), queried live

Confidential — Board of Directors

Cash & near-term flow — open-book runoff, GL basis; not a full forecast

Net bank position

−R7.50M

GL 6 Jul; FNB facility limit needed for headroom

Debtors due ≤ 2 weeks

R17.99M

R6.13M already due + R7.39M wk1 + R4.49M wk2

Creditors book

R15.94M

94% current (≤30d) — largely livestock cycle

OpEx run rate

≈R1.1M/wk

June OpEx R4.66M

Indicative: if the ≤2-week debtor runoff collects on time against the current creditor cycle, the overdraft unwinds materially within the month — collections discipline is the lever. Full 13-week model needs the FNB facility limit and the July–Sep pig purchase plan. Board input: confirm FNB facility limit

June P&L — preliminary (GL still posting, 5 days after close) · vs May

	Jun 2026	May 2026
Revenue	R40.26M	R49.29M
Cost of sales	R35.30M	R39.57M
Gross profit (margin)	R4.96M 12.3%	R9.72M 19.7%
Operating expenses	R4.66M	R10.82M
Operating result	+R0.29M	−R1.11M

June revenue by division (credit sales)	R M
Abattoir	23.62
Roots Vryheid	3.56
Roots eDumbe	2.79
Roots eMondlo	2.60
Deboning (Primal)	1.77
Natalia Butchery	1.75
Roots Xpress	1.56
Smokehouse	0.75

May OpEx includes period adjustments — June/May comparison of expense lines to be normalised at close. Board input: budget figures (not maintained in Sage) for vs-budget view

Channel mix — where each kg earns — May 2026 analysis, TVC R33.81/kg CCM

Channel	Volume	T per kg	Read
■ Wholesale carcass (abattoir)	896 t	R2.64	Volume engine, thinnest margin
■ Primal / deboning (pork)	122 t	R13.44	5× wholesale — the routing prize
■ Smokehouse (pork-based)	71 t	R4.33	Pre-materials, transfer-priced
■ Retail (3 stores)	R8.06M rev	R51.33*	*Blended vs pig TVC — not a routing comparison

Identified uplift R2.05M/month. Move #1: shift 100 t/month of heavy-carcass wholesale into deboning (+R10.83/kg → +R1.08M/mo); constraint to clear is deboning labour/shifts (+70% throughput) and demand depth on shoulders & legs. Farmer cost R39.5/kg (Apr, billed CCM basis). SAPPO weighted-avg benchmark: add from World of Pork weekly report

Slaughter — 12-week trend & capacity — CCM settlement basis (corrected from v1)

Pigs (wk to 5 Jul)

1,801

▼ vs 2,080 prior wk

CCM (wk)

160.6 t

▼ vs 189.7 t · avg 89.2 kg/pig

Capacity used (MSA units)

70%

4-wk avg 79% · peak W20 99% of 1,375 u/wk

Pigs per week (W16–W27)

161718192021222324252627

Capacity utilisation % (MSA units, cap 1,375/wk)

161718192021222324252627

Peak weeks already touch 99% of rated slaughter capacity (2,750 baconer-equivalents/wk, MSA permit) — the capacity question arrives before the demand question. Rated basis: baconer/porker/cutter = 0.5 unit, sausage pig & beef = 1.0, sheep = 0.25.

Retail — weekly sales by store — ex-VAT, POS live (eMondlo & eDumbe on Sage monthly: R2.60M / R2.79M in June)

3-store week (to 5 Jul)

R2.41M

▲ +77% vs 8 wks ago (R1.37M)

Roots Vryheid

R1.26M

▲ best week in 8

Roots Xpress

R0.60M

▲ vs R0.39M prior

Natalia

R0.56M

▲ vs R0.55M prior

Retail is the group's highest-T channel — its growth trend is the channel-mix strategy working at the shelf.

Debtors — live position

Debtor book (open items)

R20.01M

▼ from R23.39M (28 May)

Fresh overdue (≤60d past terms)

R4.55M

▼ 53% vs 28 May (R9.70M)

Customer	Balance	Fresh overdue	Note
South Africa Livestock Agents	R3.37M	R2.24M	#1 exposure — no credit limit set
Twoline Trading t/a Vision Meats	R1.43M	R0.96M
Cube Meat Processors	R0.93M	R0.48M	Sharply improved (R4.66M overdue in May)
Spar Natal DC	R0.78M	R0.39M
Oxford Family Supermarkets	R0.81M	R0.22M
Roots Butchery Mandeni	R0.17M	R0.10M

Decisions & asks for the board

Working capital: confirm the FNB facility limit and appetite — current usage −R10.33M against an unstated limit is the board's #1 visibility gap.
Credit policy: SA Livestock Agents trades at R3.37M with no credit limit — mandate a limit and terms review.
Capacity & routing: peak weeks hit 99% of slaughter capacity while deboning earns 5× wholesale per kg — endorse the phased +50t/mo deboning shift (+R0.54M/mo) and the contract-farming evaluation timeline.