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AFROCENTRIC INVESTMENT CORPORATION LIMITED - Summarised Audited Results for the year ended 30 June 2021 and dividend declaration

Release Date: 14/09/2021 09:00
Code(s): ACT     PDF:  
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Summarised Audited Results for the year ended 30 June 2021 and dividend declaration

AfroCentric Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE Code: ACT ISIN: ZAE000078416
(“the Company")

Summarised Audited Results for the year ended 30 June 2021 and dividend declaration

Introduction to the AfroCentric Group

AfroCentric is a Level 1 majority black-owned JSE listed investment holding company, which owns and
operates a diverse range of healthcare related enterprises, which include, specialised medical scheme
administration and management, the supply of pharmaceuticals, including a range of healthcare products
and services, to both the public and private healthcare sectors. A principal objective of the group, is to
ensure the delivery of efficient health management services, the distribution of quality products, all at
manageable and affordable cost, for the benefit of scheme clients, scheme members and the group’s
growing customer base. AfroCentric has been able to successfully broaden its interests in the industry, by
continuing to pursue new opportunities, to expand and rationalise its presence in the healthcare sector.

The Board is pleased to present a summary of the Company’s results for the year ended 30 June 2021.

Salient Features
                                                          %             Year ended          Year ended
                                                     change           30 June 2021        30 June 2020

Total revenue                                           25.8        8 074.4 million     6 418.9 million
Operating profit                                        15.5        1 118.6 million       968.8 million
Operating profit (excluding lease reversals)            16.8        1 032.2 million       883.4 million
Healthcare Services Operating profit                    15.3          725.6 million       629.6 million
Healthcare Retail Operating profit                      20.8          306.6 million       253.8 million
Profit before tax                                       12.3          699.5 million       622.7 million
Basic earnings (rands)                                  (0.5)         302.0 million       303.6 million
Headline earnings (rands)                                 7.2         329.1 million       306.8 million
Basic earnings (cents per share)                        (0.6)                52.56               52.87
Headline earnings (cents per share)                       7.2                57.26               53.42
Weighted average number of ordinary shares                            574.7 million       574.2 million

The information in this short form announcement has been extracted from the audited financial
statements for the year ended 30 June 2020. This announcement itself has not been audited.


The Board has pleasure in announcing that in addition to the interim gross dividend per ordinary share of
17 cents, a final gross dividend of 17 cents per ordinary share has been declared for the year ended 30
June 2021. Dividends are subject to Dividends Withholding Tax. The payment date for the dividend is
Monday, 15 November 2021.

•       Dividends have been declared out of profits available for distribution.
•       Local Dividends Withholding Tax rate is 20%.
•       The gross dividend amount is 17 cents per ordinary share.
•       The net cash dividend amount is therefore 13.60000 cents per ordinary share.
•       The Company has 574 964 584 ordinary shares in issue as at the declaration date.
•       The Company’s income tax reference number is 9600/148/71/3.

The salient dates relating to the dividend are as follows:
Last day to trade cum dividend                               Tuesday, 9 November 2021
Shares commence trading ex-dividend                          Wednesday, 10 November 2021
Dividend record date                                         Friday, 12 November 2021
Dividend payment date                                        Monday, 15 November 2021

Share certificates for ordinary shares may not be dematerialised or rematerialized between Wednesday,
10 November 2021 and Friday, 12 November 2021, both days inclusive.

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 which is available for viewing on the following websites:

Company’s website:

JSE website:

The consolidated and company annual financial statements were audited by PricewaterhouseCoopers who
issued an unmodified audit opinion on these financial statements. Their audit opinion, together with the
accompanying financial statements, can be viewed on the Company’s website, which also provides more details
on the key audit matters on pages 14 -16 of the annual financial statements.

Any investment decision by investors and/or shareholders should be based on consideration of the full
announcement, copies of which are also available for inspection at our offices on work-days during business
hours, at no charge:

On behalf of the Board

Dr ATM Mokgokong                                             Mr A Banderker
Chairperson                                                  Group Chief Executive Officer

14 September 2021

Sponsor: Sasfin Capital (a member of Sasfin Group)

Date: 14-09-2021 09:00:00
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