H 
18,400.00
-1.55%
Close of 6 Nov 2026, in ZAc
At a glance
Figures in ZAR, from our data supplier.
Revenue
ZAR 8.75bn
FY2016FY2025
Net income
ZAR 575.0m
FY2016FY2025
Free cash flow
ZAR 948.0m
FY2016FY2025
Shareholders' equity
ZAR 3.66bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 8.75bn | ZAR 8.38bn | ZAR 8.90bn | ZAR 8.15bn | ZAR 7.26bn | ZAR 6.25bn | ZAR 6.70bn | ZAR 6.38bn | ZAR 5.90bn | ZAR 5.53bn |
| Gross profit | ZAR 3.28bn | ZAR 3.16bn | ZAR 3.20bn | ZAR 2.99bn | ZAR 2.90bn | ZAR 2.17bn | ZAR 2.65bn | ZAR 2.51bn | ZAR 2.34bn | ZAR 2.13bn |
| Operating income | ZAR 1.10bn | ZAR 1.01bn | ZAR 1.07bn | ZAR 1.02bn | ZAR 825.9m | ZAR 510.1m | ZAR 700.5m | ZAR 655.5m | ZAR 676.0m | ZAR 639.4m |
| Net income | ZAR 575.0m | ZAR 506.0m | ZAR 610.8m | ZAR 596.3m | ZAR 498.7m | ZAR 35.6m | ZAR 428.9m | ZAR 380.5m | ZAR 396.8m | ZAR 387.9m |
| Diluted earnings per share | 19.82 | 17.82 | 21.52 | 19.80 | 16.50 | 1.13 | 13.24 | 11.82 | 12.53 | 12.22 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ZAR 6.73bn | ZAR 6.23bn | ZAR 6.66bn | ZAR 5.94bn | ZAR 5.45bn | ZAR 4.96bn | ZAR 4.94bn | ZAR 5.04bn | ZAR 4.62bn | ZAR 4.23bn |
| Cash and short-term investments | ZAR 352.0m | ZAR 269.0m | ZAR 245.0m | ZAR 226.6m | ZAR 223.3m | ZAR 233.6m | ZAR 57.8m | ZAR 62.7m | ZAR 81.1m | ZAR 47.2m |
| Total liabilities | ZAR 2.83bn | ZAR 2.62bn | ZAR 3.18bn | ZAR 2.69bn | ZAR 2.47bn | ZAR 2.29bn | ZAR 2.10bn | ZAR 2.46bn | ZAR 2.24bn | ZAR 2.10bn |
| Debt | ZAR 1.70bn | ZAR 1.29bn | ZAR 1.73bn | ZAR 1.29bn | ZAR 1.17bn | ZAR 1.33bn | ZAR 1.07bn | ZAR 1.23bn | ZAR 941.3m | ZAR 952.2m |
| Shareholders' equity | ZAR 3.66bn | ZAR 3.41bn | ZAR 3.28bn | ZAR 3.10bn | ZAR 2.86bn | ZAR 2.59bn | ZAR 2.74bn | ZAR 2.51bn | ZAR 2.30bn | ZAR 2.06bn |
| Shares outstanding | 29m | 28m | 28m | 30m | 30m | 32m | 32m | 32m | 32m | 32m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ZAR 1.03bn | ZAR 1.33bn | ZAR 641.8m | ZAR 649.4m | ZAR 689.4m | ZAR 830.3m | ZAR 656.9m | ZAR 304.1m | ZAR 580.0m | ZAR 567.2m |
| Capital spending | −ZAR 86.0m | −ZAR 78.6m | −ZAR 113.0m | −ZAR 83.9m | −ZAR 75.9m | −ZAR 44.8m | −ZAR 79.4m | −ZAR 56.2m | −ZAR 52.2m | −ZAR 36.2m |
| Free cash flow | ZAR 948.0m | ZAR 1.26bn | ZAR 528.8m | ZAR 565.5m | ZAR 613.5m | ZAR 785.5m | ZAR 577.5m | ZAR 247.9m | ZAR 527.8m | ZAR 531.0m |
| Dividends paid | −ZAR 298.0m | −ZAR 324.0m | −ZAR 290.3m | −ZAR 276.4m | −ZAR 213.1m | −ZAR 138.7m | −ZAR 189.4m | −ZAR 211.6m | −ZAR 177.4m | −ZAR 173.6m |
Latest quarters
By quarter end
| May 2026 | Nov 2025 | May 2025 | Nov 2024 | May 2024 | Feb 2024 | Nov 2023 | Aug 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 4.21bn | ZAR 4.86bn | ZAR 3.89bn | ZAR 4.40bn | ZAR 3.98bn | ZAR 1.99bn | ZAR 4.65bn | ZAR 2.32bn |
| Gross profit | ZAR 1.60bn | ZAR 1.81bn | ZAR 1.47bn | ZAR 1.69bn | ZAR 1.47bn | ZAR 737.0m | ZAR 1.70bn | ZAR 851.9m |
| Operating income | ZAR 485.0m | ZAR 678.0m | ZAR 419.0m | ZAR 593.2m | ZAR 414.0m | ZAR 207.0m | ZAR 606.1m | ZAR 302.6m |
| Net income | ZAR 179.0m | ZAR 308.0m | ZAR 267.0m | ZAR 282.7m | ZAR 223.0m | ZAR 111.5m | ZAR 345.8m | ZAR 172.9m |
| Diluted earnings per share | 6.15 | 10.62 | 9.20 | 9.96 | 7.86 | 3.93 | 12.18 | 6.09 |
| Cash from operations | ZAR 306.0m | ZAR 778.0m | ZAR 299.0m | ZAR 822.0m | ZAR 397.0m | ZAR 230.0m | ZAR 487.0m | ZAR 274.0m |
| Capital spending | −ZAR 80.0m | −ZAR 51.0m | −ZAR 35.0m | −ZAR 37.0m | −ZAR 41.0m | −ZAR 20.0m | −ZAR 37.0m | −ZAR 16.0m |
| Free cash flow | ZAR 226.0m | ZAR 727.0m | ZAR 264.0m | ZAR 785.0m | ZAR 356.0m | ZAR 210.0m | ZAR 450.0m | ZAR 258.0m |
| Total assets | ZAR 6.52bn | ZAR 6.73bn | ZAR 6.91bn | ZAR 6.23bn | ZAR 6.37bn | ZAR 6.37bn | ZAR 6.66bn | ZAR 6.66bn |
| Cash and short-term investments | ZAR 214.0m | ZAR 352.0m | ZAR 198.0m | ZAR 269.0m | ZAR 174.0m | ZAR 174.0m | ZAR 245.0m | ZAR 245.0m |
| Debt | ZAR 1.02bn | ZAR 979.0m | ZAR 1.35bn | ZAR 979.0m | ZAR 1.32bn | ZAR 227.0m | ZAR 1.37bn | ZAR 270.1m |
| Shareholders' equity | ZAR 3.60bn | ZAR 3.66bn | ZAR 3.45bn | ZAR 3.41bn | ZAR 3.24bn | ZAR 3.24bn | ZAR 3.28bn | ZAR 3.28bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.4% | 6.9% | 5.3% |
| Operating income | 2.5% | 16.5% | 6.1% |
| Net income | -1.2% | 74.5% | 4.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 37.6% | 37.0% | 37.2% | 38.0% |
| Operating margin | 12.3% | 12.3% | 11.6% | 11.4% |
| Net margin | 6.3% | 6.7% | 5.9% | 6.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 10.3 | 12.1 | 7.5 | 7.1 | 8.0 | 71.8 | 8.1 | 11.9 | 11.5 | 9.3 |
| Price to sales | 0.7 | 0.7 | 0.5 | 0.5 | 0.6 | 0.4 | 0.5 | 0.7 | 0.8 | 0.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 5 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 11.55 | 10.50 | 10.25 | 9.50 | 8.20 | 6.50 | 4.10 | 5.70 |
- 1-to-1 reverse split · 1 Aug 2007
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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