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Condensed unaudited interim results for the six months ended 31 December 2023
AfroCentric Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE Code: ACT ISIN: ZAE000078416
("the Company" or "AfroCentric" or "the Group")
Condensed unaudited interim results for the six months ended 31 December 2023
Introduction to the AfroCentric Group
AfroCentric is a BEE Level 1, majority black-owned JSE Limited listed investment holding company, which
owns and operates a diverse range of healthcare-related enterprises that provide specialised medical
scheme administration and deliver a range of healthcare products and services to the public and private
healthcare sectors. The principal objective of the Group is to ensure the delivery of efficient health
management services and the distribution of quality products at a manageable and affordable cost for the
benefit of our stakeholders. AfroCentric has successfully broadened its interests in the industry by
continuing to pursue new opportunities to expand and rationalise its presence across the healthcare
sector.
The Board presents a summary of the Company's results for the six months ended 31 December 2023.
Salient Features
% Unaudited six Unaudited six
change months ended months ended
31 December 31 December
2023 2022
Total revenue from contracts with customers (R' 1.4 4 384.4 4 322.1
million)
Profit before tax (R' million) (3.2) 262.2 270.9
Profit for the year (R' million) (4.9) 185.0 194.4
Basic earnings (R' million) 38.1 173.8 125.8
Headline earnings (R' million) 39.6 175.4 125.7
Basic earnings (cents per share) (3.5) 21.03 21.79
Headline earnings (cents per share) (2.4) 21.24 21.76
Weighted average number of ordinary shares 826.1million 577.4million
Dividend declared (cents per share) 100 11 0
Dividends
The Board has pleasure in announcing that an interim gross dividend of 11 cents per ordinary share has
been declared for the period ended 31 December 2023. Dividends are subject to Dividends Withholding
Tax. The payment date for the dividend is Monday, 13 May 2024.
- Dividends have been declared out of profits available for distribution.
- South African Dividends Withholding Tax rate is 20%.
- The gross dividend amount is 11.00000 cents per ordinary share.
- Net cash dividend amount is therefore 8.80000 cents per ordinary share.
- The Company has 828 092 709 ordinary shares in issue as at the declaration date.
- The Company's income tax reference number is 9600148713.
The salient dates relating to the dividend are as follows:
Last day to trade cum dividend Tuesday, 7 May 2024
Shares commence trading ex-dividend Wednesday, 8 May 2024
Dividend record date Friday, 10 May 2024
Dividend payment date Monday, 13 May 2024
Share certificates for ordinary shares may not be dematerialised or materialised between Wednesday,
8 May 2024 and Friday, 10 May 2024, both days inclusive.
Effective 31 December 2024, the Group will be aligning its financial year end with Sanlam. Going forward,
an annual dividend will be declared and paid based on the audited results for the period January to
December.
Full Announcement
This short-form announcement is the responsibility of the Directors of the Company and is a summary of the
information in the full announcement and does not contain full or complete details. The full announcement is
available for viewing on the following websites:
Company's website: http://www.afrocentric.za.com/inv-reporting.php
JSE website: https://senspdf.jse.co.za/documents/2024/JSE/ISSE/ACT/Int2024.pdf
Management will host a virtual investor presentation tomorrow Tuesday, 05 March 2024 at 10:30 SAST. The
webcast will be accessible at: https://www.acinterim2024.co.za
Any investment decision by investors and/or shareholders should be based on consideration of the information
contained in the full announcement released on SENS, copies of which are also available for inspection at the
Company's offices on workdays during business hours (at no charge) or on request from the company secretary
by email: lebohang.mpumlwana@afrocentrichealth.com
Dr ATM Mokgokong Mr GN van Wyk
Chairman Group Chief Executive Officer
Johannesburg
4 March 2024
JSE Sponsor to AfroCentric
Questco Corporate Advisory Proprietary Limited
Date: 04-03-2024 10:00:00
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