In­terim profit up 124% to R60.1m

Pretoria News - - NEWS -

JSE-LISTED Cap­i­tal Ap­pre­ci­a­tion re­ported a 124 per­cent jump in profit to R60.1 mil­lion for the six months to Septem­ber, boosted by three ac­qui­si­tions made in May. The in­vest­ment hold­ing com­pany, which fo­cuses on in­vest­ing in and de­vel­op­ing fi­nan­cial tech­nol­ogy, de­clared a maiden div­i­dend of 2 cents a share. The group re­ported rev­enue of R223.4m, up 462.72 per­cent com­pared with R39.7m last year. Earn­ings per share (Eps) and head­line earn­ings per share (Heps) came in at 4.02c a share, re­flect­ing an in­crease of 87 per­cent com­pared with last year’s Eps and Heps of 2.15c. “The per­for­mance sta­tis­tics set out above are con­sis­tent with the re­sults as­sessed through Cap­i­tal Ap­pre­ci­a­tion’s due dili­gence re­view when the vi­able as­set ac­qui­si­tions were con­sid­ered,” the group said. Earn­ings be­fore in­ter­est, tax, de­pre­ci­a­tion and amor­ti­sa­tion were R85.6m, up from R37.4m in­clud­ing in­vest­ment in­come of R19.6m. The group has R463.1m cash on hand and it gen­er­ated R60.2m in cash dur­ing the pe­riod. The three ac­qui­si­tions made in May were African Res­o­nance, Dash­pay and Syn­the­sis Soft­ware Tech­nolo­gies. The group an­nounced its in­ten­tion to in­vest in Res­o­nance Aus­tralia and ac­quired a 17.45 per­cent in­ter­est in the Australian com­pany. – Sandile Mchunu

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