AfroCentric reports profit rebound despite revenue decline

AfroCentric Investment Corporation Limited reported a 2.6% decrease in revenue from continuing operations to R4,211.1 million for the six months ended June 30, 2025, down from R4,322.9 million in the prior period. Despite this, the company achieved a substantial profit turnaround, with profit before tax from continuing operations rising by 298.4% to R161.0 million, compared to a loss of R81.2 million in the previous year.

Profit from continuing operations also saw a significant improvement, reaching R108.1 million, an 183.4% increase from the R129.6 million loss reported previously. Basic earnings per share improved to 11.54 cents, up from a loss of 14.26 cents, while headline earnings per share decreased by 38.5% to 11.68 cents from 19.00 cents. The weighted average number of ordinary shares increased to 840.99 million from 830.32 million.

Management will host a virtual investor presentation on September 3, 2025, at 10:00 SAST to discuss these results. The full announcement and detailed information are available on the company's website and the JSE website.