Trencor earnings jump amid liquidation plans

Trencor Limited (JSE:TRE) reported a substantial increase in operating profit before finance income, rising to R509 million in 2024 from R87 million the previous year. Profit before tax also saw significant growth, reaching R593 million, compared to R165 million in 2023. Basic and diluted earnings per share increased sharply to 327.4 cents, up from 71.5 cents. Headline earnings dropped to R53 million. These results, released as part of the company's audited consolidated and separate financial statements for the year ended December 31, 2024, reflect the impact of recycling the accumulated foreign currency translation reserve from the dissolution of TAC Limited which contributed R515 million. The company, currently operating as a cash company, is in the process of distributing available cash resources to shareholders, with a special cash dividend of 730 cents per share (amounting to R1,267 billion) declared on January 28, 2025.