T 
122.00
—
Close of 9 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 297.0m
FY2016FY2025
Net income
−ZAR 91.5m
FY2016FY2025
Free cash flow
−ZAR 37.8m
FY2016FY2025
Shareholders' equity
ZAR 319.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 297.0m | ZAR 287.5m | ZAR 554.3m | ZAR 490.8m | ZAR 406.1m | ZAR 382.7m | ZAR 385.9m | ZAR 318.9m | ZAR 392.4m | ZAR 136.0m |
| Operating income | ZAR 12.4m | ZAR 23.4m | ZAR 119.6m | ZAR 119.2m | ZAR 95.0m | ZAR 120.3m | ZAR 118.0m | ZAR 102.5m | ZAR 204.4m | ZAR 49.6m |
| Net income | −ZAR 91.5m | −ZAR 10.1m | ZAR 71.6m | ZAR 18.3m | −ZAR 16.5m | −ZAR 4.2m | ZAR 22.1m | ZAR 35.7m | ZAR 291.8m | ZAR 49.5m |
| Diluted earnings per share | -0.41 | -0.04 | 0.32 | 0.08 | -0.08 | -0.02 | 0.09 | 0.15 | 1.24 | 0.21 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ZAR 642.3m | ZAR 2.38bn | ZAR 2.53bn | ZAR 2.50bn | ZAR 2.34bn | ZAR 2.39bn | ZAR 2.37bn | ZAR 2.30bn | ZAR 2.24bn | ZAR 1.19bn |
| Cash and short-term investments | ZAR 99.1m | ZAR 219.7m | ZAR 274.0m | ZAR 209.2m | ZAR 209.9m | ZAR 168.4m | ZAR 153.2m | ZAR 109.6m | ZAR 179.4m | ZAR 46.5m |
| Total liabilities | ZAR 322.8m | ZAR 1.67bn | ZAR 1.71bn | ZAR 1.67bn | ZAR 1.51bn | ZAR 1.49bn | ZAR 1.47bn | ZAR 1.42bn | ZAR 1.39bn | ZAR 634.5m |
| Debt | ZAR 235.9m | ZAR 1.21bn | ZAR 1.28bn | ZAR 1.31bn | ZAR 1.18bn | ZAR 1.14bn | ZAR 1.11bn | ZAR 1.11bn | ZAR 1.13bn | ZAR 505.3m |
| Shareholders' equity | ZAR 319.5m | ZAR 718.4m | ZAR 826.3m | ZAR 834.5m | ZAR 836.0m | ZAR 898.8m | ZAR 900.7m | ZAR 880.1m | ZAR 850.3m | ZAR 556.2m |
| Shares outstanding | 223m | 224m | 226m | 221m | 208m | 214m | 235m | 236m | 236m | 235m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −ZAR 32.7m | ZAR 57.7m | ZAR 94.9m | ZAR 36.4m | ZAR 16.7m | −ZAR 18.4m | ZAR 92.0m | ZAR 12.9m | ZAR 86.9m | −ZAR 9.3m |
| Capital spending | −ZAR 5.1m | −ZAR 6.0m | −ZAR 23.8m | −ZAR 14.6m | −ZAR 41.3m | −ZAR 81.5m | −ZAR 97.2m | −ZAR 56.5m | −ZAR 44.9m | −ZAR 19.9m |
| Free cash flow | −ZAR 37.8m | ZAR 51.6m | ZAR 71.1m | ZAR 21.8m | −ZAR 24.6m | −ZAR 99.8m | −ZAR 5.2m | −ZAR 43.5m | ZAR 42.0m | −ZAR 29.3m |
| Dividends paid | −ZAR 296.5m | −ZAR 77.1m | −ZAR 96.6m | −ZAR 68.0m | −ZAR 16.1m | −ZAR 12.1m | −ZAR 11.3m | −ZAR 10.9m | −ZAR 8.8m | −ZAR 8.2m |
Latest quarters
By quarter end
| Feb 2026 | Aug 2025 | Feb 2025 | Aug 2024 | Feb 2024 | Nov 2023 | Aug 2023 | May 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 2.5m | ZAR 139.6m | ZAR 158.0m | ZAR 278.7m | ZAR 287.1m | ZAR 143.6m | ZAR 273.3m | ZAR 136.0m |
| Operating income | −ZAR 10.6m | −ZAR 17.5m | ZAR 15.3m | ZAR 75.1m | ZAR 87.8m | ZAR 42.3m | ZAR 83.5m | ZAR 31.7m |
| Net income | −ZAR 37.1m | −ZAR 33.8m | −ZAR 25.3m | −ZAR 18.4m | ZAR 8.3m | ZAR 4.1m | ZAR 68.4m | ZAR 34.2m |
| Diluted earnings per share | -0.17 | -0.15 | -0.11 | -0.08 | 0.04 | 0.02 | 0.30 | 0.15 |
| Cash from operations | −ZAR 12.0m | −ZAR 76.0m | ZAR 44.0m | ZAR 24.0m | ZAR 33.0m | ZAR 16.0m | — | ZAR 12.0m |
| Capital spending | — | — | −ZAR 4.0m | −ZAR 4.0m | −ZAR 27.0m | — | — | −ZAR 9.0m |
| Free cash flow | — | — | ZAR 40.0m | ZAR 20.0m | ZAR 6.0m | — | — | ZAR 3.0m |
| Total assets | ZAR 601.4m | ZAR 642.3m | ZAR 1.02bn | ZAR 2.38bn | ZAR 2.39bn | ZAR 2.39bn | ZAR 2.53bn | ZAR 2.53bn |
| Cash and short-term investments | ZAR 91.2m | ZAR 99.1m | ZAR 374.7m | ZAR 219.7m | ZAR 158.7m | ZAR 152.4m | ZAR 274.0m | ZAR 267.7m |
| Debt | ZAR 162.2m | ZAR 162.7m | ZAR 163.8m | ZAR 1.14bn | ZAR 1.12bn | — | ZAR 1.20bn | — |
| Shareholders' equity | ZAR 283.5m | ZAR 319.5m | ZAR 642.2m | ZAR 718.4m | ZAR 758.4m | ZAR 758.4m | ZAR 826.3m | ZAR 826.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -15.4% | -4.9% | 10.5% |
| Operating income | -52.9% | -36.5% | -6.3% |
| Net income | — | 85.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 6.1% | 16.9% | 20.3% | 26.3% |
| Net margin | -17.4% | -0.7% | -1.3% | 12.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.5 | -56.5 | 7.7 | 41.1 | -40.3 | -121.8 | 27.9 | 21.2 | 2.4 | 14.2 |
| Price to sales | 0.8 | 2.0 | 1.0 | 1.5 | 1.6 | 1.3 | 1.6 | 2.4 | 1.8 | 5.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 11 years. Last went ex-dividend on 7 May 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.077 | 0.32 | 0.40 | 0.30 | 0.075 | 0.055 | 0.053 | 0.05 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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