E 
234.00
—
Close of 6 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 378.4m
FY2016FY2025
Net income
−ZAR 168.4m
FY2016FY2025
Free cash flow
ZAR 84.5m
FY2016FY2025
Shareholders' equity
ZAR 950.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 378.4m | ZAR 4.08bn | ZAR 4.19bn | ZAR 3.33bn | ZAR 4.33bn | ZAR 7.21bn | ZAR 7.79bn | ZAR 7.43bn | ZAR 6.22bn | ZAR 1.15bn |
| Operating income | −ZAR 38.4m | ZAR 193.7m | ZAR 267.9m | ZAR 197.6m | ZAR 381.4m | −ZAR 172.8m | ZAR 757.2m | ZAR 741.2m | ZAR 673.1m | −ZAR 57.9m |
| Net income | −ZAR 168.4m | ZAR 209.5m | ZAR 295.9m | ZAR 229.3m | ZAR 165.5m | −ZAR 512.9m | ZAR 105.8m | ZAR 225.7m | −ZAR 467.3m | −ZAR 71.4m |
| Diluted earnings per share | -0.93 | 1.16 | 1.63 | 1.26 | 0.91 | -2.83 | 0.58 | 1.24 | -2.62 | -0.46 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ZAR 1.55bn | ZAR 2.85bn | ZAR 5.57bn | ZAR 5.91bn | ZAR 8.32bn | ZAR 10.61bn | ZAR 10.36bn | ZAR 9.71bn | ZAR 9.65bn | ZAR 1.42bn |
| Cash and short-term investments | ZAR 281.9m | ZAR 771.7m | ZAR 303.0m | ZAR 1.06bn | ZAR 856.0m | ZAR 885.9m | ZAR 400.7m | ZAR 437.3m | ZAR 354.2m | ZAR 60.1m |
| Total liabilities | ZAR 604.0m | ZAR 1.16bn | ZAR 2.99bn | ZAR 3.65bn | ZAR 5.65bn | ZAR 8.11bn | ZAR 7.46bn | ZAR 6.92bn | ZAR 6.94bn | ZAR 736.9m |
| Debt | ZAR 4.0m | ZAR 278.3m | ZAR 281.6m | ZAR 1.74bn | ZAR 2.18bn | ZAR 6.11bn | ZAR 3.28bn | ZAR 4.75bn | ZAR 4.84bn | ZAR 193.4m |
| Shareholders' equity | ZAR 950.2m | ZAR 1.64bn | ZAR 2.52bn | ZAR 2.22bn | ZAR 2.63bn | ZAR 2.46bn | ZAR 2.87bn | ZAR 2.76bn | ZAR 2.68bn | ZAR 687.4m |
| Shares outstanding | 181m | 181m | 182m | 181m | 182m | 181m | 182m | 181m | 178m | 157m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ZAR 96.5m | −ZAR 190.6m | ZAR 24.6m | ZAR 519.1m | ZAR 2.35bn | ZAR 2.00bn | ZAR 1.74bn | ZAR 2.01bn | ZAR 1.64bn | ZAR 12.3m |
| Capital spending | −ZAR 12.0m | −ZAR 39.5m | −ZAR 120.0m | −ZAR 43.5m | −ZAR 1.81bn | −ZAR 1.79bn | −ZAR 2.16bn | −ZAR 1.79bn | −ZAR 1.38bn | −ZAR 20.1m |
| Free cash flow | ZAR 84.5m | −ZAR 230.0m | −ZAR 95.4m | ZAR 475.5m | ZAR 530.9m | ZAR 206.4m | −ZAR 420.8m | ZAR 214.3m | ZAR 256.0m | −ZAR 7.8m |
Latest quarters
By quarter end
| Feb 2026 | Aug 2025 | Feb 2025 | Aug 2024 | Feb 2024 | Nov 2023 | Aug 2023 | Feb 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 121.8m | −ZAR 755.2m | ZAR 1.13bn | ZAR 1.96bn | ZAR 1.27bn | ZAR 1.06bn | ZAR 1.28bn | ZAR 2.92bn |
| Operating income | −ZAR 19.0m | −ZAR 79.0m | ZAR 40.6m | ZAR 87.4m | ZAR 68.5m | ZAR 62.0m | −ZAR 179.1m | ZAR 215.7m |
| Net income | ZAR 3.8m | −ZAR 89.0m | −ZAR 79.4m | ZAR 59.7m | ZAR 155.9m | ZAR 55.5m | ZAR 169.7m | ZAR 126.2m |
| Diluted earnings per share | 0.02 | -0.49 | -0.44 | 0.33 | 0.86 | 0.30 | 0.93 | 0.69 |
| Cash from operations | ZAR 150.0m | ZAR 40.0m | ZAR 56.0m | ZAR 40.0m | −ZAR 231.0m | −ZAR 115.0m | ZAR 101.0m | −ZAR 64.0m |
| Capital spending | −ZAR 97.0m | ZAR 5.0m | −ZAR 17.0m | −ZAR 23.0m | −ZAR 16.0m | −ZAR 8.0m | −ZAR 22.0m | −ZAR 97.0m |
| Free cash flow | ZAR 53.0m | ZAR 45.0m | ZAR 39.0m | ZAR 17.0m | −ZAR 247.0m | −ZAR 123.0m | ZAR 79.0m | −ZAR 161.0m |
| Total assets | ZAR 1.51bn | ZAR 1.55bn | ZAR 2.76bn | ZAR 2.85bn | ZAR 6.17bn | ZAR 6.17bn | ZAR 5.57bn | ZAR 5.22bn |
| Cash and short-term investments | ZAR 277.3m | ZAR 281.9m | ZAR 612.4m | ZAR 771.7m | ZAR 540.2m | ZAR 540.2m | ZAR 303.0m | ZAR 401.6m |
| Debt | ZAR 1.8m | ZAR 5.1m | ZAR 98.6m | ZAR 270.7m | ZAR 322.7m | ZAR 290.7m | ZAR 269.9m | ZAR 1.47bn |
| Shareholders' equity | ZAR 953.9m | ZAR 950.2m | ZAR 1.57bn | ZAR 1.64bn | ZAR 2.51bn | ZAR 2.51bn | ZAR 2.52bn | ZAR 2.35bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -51.6% | -44.5% | -8.1% |
| Operating income | — | -26.0% | — |
| Net income | — | -20.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 3.5% | 5.2% | 3.5% | 6.3% |
| Net margin | 0.9% | 4.7% | 0.9% | 0.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.3 | 2.6 | 1.6 | 1.3 | 2.4 | -0.5 | 4.7 | 2.6 | -1.5 | -9.5 |
| Price to sales | 1.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.1 | 0.1 | 0.1 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 6 Aug 2025.
| FY2025 | FY2024 | FY2022 | FY2011 | FY2010 | FY2009 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.029 | 1.05 | 0.035 | 0.44 | 0.44 | 0.22 |
- 11-to-1 reverse split · 19 Oct 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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