South Africa, May 12 -- The company outperformed its pre-IPO guidance on its trading margin, reporting a 5.4% 52-week trading margin ahead of the 5% guidance set ahead of its listing.

Boxer Retail Limited made history as the biggest initial public offering (IPO) listing on the JSE in eight years, which was oversubscribed multiple times at the top end of the offer price range.

The discounter reported turnover growth of 13.2% to R42.3bn for its annual results for 53 weeks to 2 March 2025 (FY25).

During the FY25 period, Boxer also delivered strong trading profit growth of 9.9% to R2.3bn. This growth was 17.0% if excluding non-recurring non-cash gains on the derecognition of a Pick n Pay financial guarantee in the prior year.

Comparing ye...