AfroCentric issues trading statement, anticipates mixed earnings for June 2025

AfroCentric Investment Corporation Limited has released a trading statement indicating that its earnings per share (EPS) for the six months ended June 30, 2025 are expected to be between 10.15 cents and 13.00 cents. This compares to a loss per share of 14.26 cents for the six months ended June 30, 2024 and a loss per share of 14.96 cents for the six months ended December 31, 2024. Headline earnings per share (HEPS) for the current period are projected to be between 11.30 cents and 12.06 cents.

The anticipated HEPS reflects a decrease of 36.5% to 40.5% compared to 19.00 cents per share for the six months ended June 30, 2024. However, it also indicates a substantial increase of 197.4% to 217.4% when compared to 3.80 cents per share for the six months ended December 31, 2024. The growth in current year earnings is attributed to revenue growth and cost containment in the Services Cluster.

These positive factors are diluted by tough trading conditions in the Retail Cluster, specifically due to the loss of designated service provider contracts and reduced margins from pharmaceutical products. The company's interim results for the current financial period are expected to be published around September 2, 2025. This trading statement is based on unaudited, unreviewed information.