C 
2,000.00
—
Close of 2 Nov 2026, in ZAc
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in ZAR, from our data supplier.
Revenue
ZAR 777.6m
FY2017FY2026
Net income
−ZAR 285.3m
FY2017FY2026
Free cash flow
−ZAR 13.6m
FY2017FY2026
Shareholders' equity
ZAR 741.3m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 777.6m | ZAR 833.8m | ZAR 727.9m | ZAR 615.7m | ZAR 678.6m | ZAR 635.6m | ZAR 703.7m | ZAR 576.1m | ZAR 657.2m | ZAR 664.0m |
| Operating income | ZAR 24.7m | ZAR 132.5m | ZAR 111.2m | −ZAR 148.6m | ZAR 59.3m | ZAR 97.9m | ZAR 56.5m | ZAR 73.9m | ZAR 3.1m | ZAR 125.2m |
| Net income | −ZAR 285.3m | ZAR 68.1m | ZAR 61.3m | −ZAR 196.1m | ZAR 62.6m | ZAR 23.2m | ZAR 8.7m | ZAR 25.6m | −ZAR 7.6m | ZAR 64.8m |
| Diluted earnings per share | -18.86 | 4.49 | 4.06 | -12.85 | 4.10 | 1.52 | 0.57 | 1.68 | -0.50 | 4.25 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ZAR 1.70bn | ZAR 1.85bn | ZAR 1.82bn | ZAR 1.89bn | ZAR 1.83bn | ZAR 1.75bn | ZAR 1.79bn | ZAR 1.68bn | ZAR 1.57bn | ZAR 1.47bn |
| Cash and short-term investments | ZAR 166.4m | ZAR 122.4m | ZAR 155.1m | ZAR 57.4m | ZAR 42.8m | ZAR 76.0m | ZAR 22.9m | ZAR 56.8m | ZAR 27.0m | ZAR 56.9m |
| Total liabilities | ZAR 892.5m | ZAR 738.6m | ZAR 735.8m | ZAR 882.0m | ZAR 689.6m | ZAR 663.2m | ZAR 724.7m | ZAR 622.3m | ZAR 536.3m | ZAR 400.8m |
| Debt | ZAR 540.6m | ZAR 391.5m | ZAR 407.7m | ZAR 545.4m | ZAR 391.6m | ZAR 401.5m | ZAR 468.0m | ZAR 337.3m | ZAR 292.9m | ZAR 161.4m |
| Shareholders' equity | ZAR 741.3m | ZAR 1.03bn | ZAR 1.01bn | ZAR 947.5m | ZAR 1.08bn | ZAR 1.04bn | ZAR 1.03bn | ZAR 1.03bn | ZAR 1.01bn | ZAR 1.04bn |
| Shares outstanding | 15m | 15m | 15m | 15m | 15m | — | 15m | 15m | 15m | 15m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ZAR 63.7m | ZAR 100.8m | ZAR 139.4m | −ZAR 46.0m | ZAR 14.5m | ZAR 52.6m | ZAR 23.9m | ZAR 79.7m | −ZAR 9.4m | ZAR 89.4m |
| Capital spending | −ZAR 77.3m | −ZAR 81.6m | −ZAR 32.8m | −ZAR 77.3m | −ZAR 94.4m | −ZAR 57.3m | −ZAR 67.3m | −ZAR 78.9m | −ZAR 155.2m | −ZAR 159.0m |
| Free cash flow | −ZAR 13.6m | ZAR 19.3m | ZAR 106.6m | −ZAR 123.4m | −ZAR 79.9m | −ZAR 4.7m | −ZAR 43.4m | ZAR 826,000 | −ZAR 164.7m | −ZAR 69.6m |
| Dividends paid | −ZAR 22.9m | −ZAR 30.5m | −ZAR 15.3m | — | −ZAR 7.6m | −ZAR 2.0m | −ZAR 10.2m | −ZAR 12.1m | −ZAR 22.9m | −ZAR 25.2m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 285.4m | ZAR 492.2m | ZAR 314.8m | ZAR 519.1m | ZAR 237.2m | ZAR 118.6m | ZAR 490.8m | ZAR 245.4m |
| Operating income | −ZAR 338.1m | ZAR 128.2m | −ZAR 46.2m | ZAR 163.3m | ZAR 5.0m | ZAR 2.5m | ZAR 150.3m | ZAR 54.0m |
| Net income | −ZAR 304.9m | ZAR 19.6m | ZAR 30.3m | ZAR 37.9m | ZAR 955,000 | −ZAR 6.5m | ZAR 49.9m | ZAR 17.8m |
| Diluted earnings per share | -20.15 | 1.29 | 1.99 | 2.51 | 0.06 | -0.42 | 3.27 | 1.16 |
| Cash from operations | −ZAR 31.0m | ZAR 94.0m | ZAR 5.0m | ZAR 98.0m | ZAR 48.0m | ZAR 24.0m | ZAR 90.0m | ZAR 45.0m |
| Capital spending | −ZAR 38.0m | −ZAR 38.0m | −ZAR 49.0m | −ZAR 32.0m | −ZAR 18.0m | −ZAR 9.0m | −ZAR 14.0m | −ZAR 7.0m |
| Free cash flow | −ZAR 69.0m | ZAR 56.0m | −ZAR 44.0m | ZAR 66.0m | ZAR 30.0m | ZAR 15.0m | ZAR 76.0m | ZAR 38.0m |
| Total assets | ZAR 1.70bn | ZAR 1.87bn | ZAR 1.85bn | ZAR 1.84bn | ZAR 1.82bn | ZAR 1.82bn | ZAR 2.03bn | ZAR 2.03bn |
| Cash and short-term investments | ZAR 166.4m | ZAR 149.0m | ZAR 122.4m | ZAR 189.1m | ZAR 155.1m | ZAR 158.1m | ZAR 125.0m | ZAR 125.0m |
| Debt | ZAR 321.5m | ZAR 228.5m | ZAR 231.2m | ZAR 238.2m | ZAR 245.1m | ZAR 229.1m | ZAR 380.5m | ZAR 268.2m |
| Shareholders' equity | ZAR 741.3m | ZAR 1.02bn | ZAR 1.03bn | ZAR 983.4m | ZAR 1.01bn | ZAR 1.01bn | ZAR 1.02bn | ZAR 1.02bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.1% | 4.1% | 3.7% |
| Operating income | — | -24.1% | -11.9% |
| Net income | 13.3% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 9.8% | 4.1% | 6.5% | 8.4% |
| Net margin | -13.5% | -11.9% | -6.2% | -1.5% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.1 | 5.4 | 7.8 | -2.5 | 8.5 | 26.3 | 74.7 | 26.2 | -84.5 | 13.4 |
| Price to sales | 0.4 | 0.4 | 0.7 | 0.8 | 0.8 | 1.0 | 0.9 | 1.2 | 1.0 | 1.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 6 Aug 2025.
| FY2026 | FY2025 | FY2022 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.015 | 0.02 | 0.005 | 0.015 | 0.017 | 0.012 | 0.019 | 0.024 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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