P 
275.00
—
Close of 2 Nov 2026, in ZAc
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At a glance
Figures in ZAR, from our data supplier.
Revenue
ZAR 1.10bn
FY2017FY2026
Net income
ZAR 34.6m
FY2017FY2026
Free cash flow
ZAR 57.4m
FY2017FY2026
Shareholders' equity
ZAR 239.2m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 1.10bn | ZAR 1.07bn | ZAR 950.6m | ZAR 805.1m | ZAR 777.1m | ZAR 737.3m | ZAR 807.7m | ZAR 806.7m | ZAR 725.3m | ZAR 642.1m |
| Gross profit | ZAR 133.8m | ZAR 127.7m | ZAR 112.2m | ZAR 92.2m | ZAR 90.4m | ZAR 83.1m | ZAR 113.4m | ZAR 112.3m | ZAR 107.0m | ZAR 101.2m |
| Operating income | ZAR 38.8m | ZAR 35.0m | ZAR 23.9m | ZAR 20.6m | ZAR 16.2m | ZAR 6.1m | ZAR 27.3m | ZAR 25.3m | ZAR 22.3m | ZAR 21.6m |
| Net income | ZAR 34.6m | ZAR 31.4m | ZAR 25.0m | ZAR 18.6m | ZAR 15.5m | ZAR 9.1m | ZAR 26.7m | ZAR 23.0m | ZAR 19.5m | ZAR 16.0m |
| Diluted earnings per share | 0.47 | 0.43 | 0.33 | 0.24 | 0.20 | 0.11 | 0.31 | 0.27 | 0.22 | 0.18 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ZAR 311.6m | ZAR 309.9m | ZAR 281.0m | ZAR 247.4m | ZAR 235.1m | ZAR 229.7m | ZAR 233.1m | ZAR 214.6m | ZAR 172.2m | ZAR 176.1m |
| Cash and short-term investments | ZAR 109.5m | ZAR 75.8m | ZAR 66.1m | ZAR 61.6m | ZAR 59.6m | ZAR 45.6m | ZAR 32.8m | ZAR 7.0m | ZAR 4.4m | ZAR 2.1m |
| Total liabilities | ZAR 80.4m | ZAR 99.2m | ZAR 89.9m | ZAR 70.9m | ZAR 65.5m | ZAR 66.4m | ZAR 72.5m | ZAR 72.7m | ZAR 49.6m | ZAR 69.9m |
| Debt | ZAR 1.9m | ZAR 4.3m | ZAR 2.1m | ZAR 4.5m | ZAR 5.8m | ZAR 11.6m | ZAR 25.1m | ZAR 19.4m | ZAR 13.1m | ZAR 38.1m |
| Shareholders' equity | ZAR 239.2m | ZAR 217.1m | ZAR 198.5m | ZAR 185.1m | ZAR 178.6m | ZAR 173.7m | ZAR 171.1m | ZAR 150.0m | ZAR 130.8m | ZAR 114.4m |
| Shares outstanding | 73m | 74m | 75m | 77m | 78m | 84m | 85m | 86m | 89m | 90m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ZAR 58.8m | ZAR 34.3m | ZAR 29.1m | ZAR 20.0m | ZAR 40.6m | ZAR 31.1m | ZAR 32.6m | ZAR 837,000 | ZAR 34.6m | −ZAR 6.5m |
| Capital spending | −ZAR 1.4m | −ZAR 4.7m | −ZAR 6.3m | −ZAR 3.0m | −ZAR 6.0m | −ZAR 829,000 | −ZAR 1.0m | −ZAR 776,000 | −ZAR 3.4m | −ZAR 1.4m |
| Free cash flow | ZAR 57.4m | ZAR 29.6m | ZAR 22.8m | ZAR 17.1m | ZAR 34.6m | ZAR 30.3m | ZAR 31.5m | ZAR 61,000 | ZAR 31.2m | −ZAR 7.9m |
| Dividends paid | −ZAR 11.7m | −ZAR 9.7m | −ZAR 7.3m | −ZAR 6.1m | −ZAR 3.4m | −ZAR 2.6m | −ZAR 3.5m | −ZAR 2.8m | −ZAR 3.2m | −ZAR 1.2m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 554.3m | ZAR 542.1m | ZAR 557.0m | ZAR 517.3m | ZAR 495.6m | ZAR 247.8m | ZAR 455.0m | ZAR 227.5m |
| Gross profit | ZAR 68.5m | ZAR 65.9m | ZAR 65.2m | ZAR 62.6m | ZAR 56.3m | ZAR 28.1m | ZAR 56.0m | ZAR 28.0m |
| Operating income | ZAR 22.5m | ZAR 16.2m | ZAR 20.7m | ZAR 14.3m | ZAR 10.7m | ZAR 5.4m | ZAR 13.1m | ZAR 6.6m |
| Net income | ZAR 19.7m | ZAR 14.9m | ZAR 18.3m | ZAR 13.1m | ZAR 13.4m | ZAR 6.7m | ZAR 11.5m | ZAR 5.8m |
| Diluted earnings per share | 0.27 | 0.20 | 0.25 | 0.18 | 0.18 | 0.09 | 0.15 | 0.08 |
| Cash from operations | ZAR 49.0m | ZAR 9.0m | ZAR 11.0m | ZAR 23.0m | ZAR 13.0m | ZAR 6.0m | ZAR 15.0m | ZAR 7.0m |
| Capital spending | −ZAR 1.0m | — | — | — | −ZAR 4.0m | −ZAR 2.0m | −ZAR 6.0m | — |
| Free cash flow | ZAR 48.0m | — | — | — | ZAR 9.0m | ZAR 4.0m | ZAR 9.0m | — |
| Total assets | ZAR 311.6m | ZAR 325.7m | ZAR 309.9m | ZAR 292.7m | ZAR 281.0m | ZAR 281.0m | ZAR 258.7m | ZAR 258.7m |
| Cash and short-term investments | ZAR 109.5m | ZAR 77.9m | ZAR 75.8m | ZAR 75.1m | ZAR 66.1m | ZAR 66.1m | ZAR 60.5m | ZAR 60.5m |
| Debt | ZAR 1.9m | ZAR 2.2m | ZAR 1.9m | ZAR 1.6m | ZAR 1.8m | — | ZAR 2.3m | ZAR 2.3m |
| Shareholders' equity | ZAR 239.2m | ZAR 231.4m | ZAR 217.1m | ZAR 203.6m | ZAR 198.5m | ZAR 198.5m | ZAR 190.8m | ZAR 190.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.8% | 8.3% | 6.7% |
| Operating income | 23.5% | 44.7% | 10.3% |
| Net income | 22.9% | 30.6% | 10.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 12.0% | 11.9% | 11.8% | 13.0% |
| Operating margin | 3.4% | 3.0% | 2.6% | 2.8% |
| Net margin | 3.0% | 2.8% | 2.5% | 2.6% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 5.8 | 7.0 | 7.2 | 5.2 | 6.3 | 9.9 | 2.9 | 3.1 | 2.8 | 3.4 |
| Price to sales | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 11 years. Last went ex-dividend on 21 Jan 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.002 | 0.001 | 0.001 | 0.001 | 0.00 | 0.00 | 0.00 | 0.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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