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Summarised annual results for the twelve months ended 30 June 2024
AfroCentric Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE Code: ACT ISIN: ZAE000078416
("AfroCentric" or "the Company")
Summarised annual results for the twelve months ended 30 June 2024
Introduction to the AfroCentric Group
AfroCentric is a Level 1, majority black-owned JSE Limited listed investment holding company, which owns
and operates a diverse range of healthcare-related enterprises that provide specialised medical scheme
administration and deliver a range of healthcare products and services to the public and private healthcare
sectors. The principal objective of the Group is to ensure the delivery of efficient health management
services and the distribution of quality products - all at a manageable and affordable cost for the benefit of
our stakeholders. AfroCentric has successfully broadened its interests in the industry by continuing to
pursue new opportunities to expand and rationalise its presence across the healthcare sector.
The Board presents a summary of the Company's results for the twelve months ended
30 June 2024.
Salient Features
% Year ended Restated
change 30 June 2024 Year ended
30 June 2023
Total revenue from contracts with customers (R' 0.4 8 794.7 8 760.2
million)
Profit before tax (R' million) (51.6) 207.0 427.4
Profit for the year (R' million) (74.9) 74.3 295.5
Basic earnings (R' million) (69.8) 55.4 183.5
Headline earnings (R' million) 54.1 334.8 217.3
Basic earnings (cents per share) (78.3) 6.67 30.70
Headline earnings (cents per share) 11.0 40.32 36.34
Weighted average number of ordinary shares 38.9 830.3 million 597.8 million
Dividends
The Group declared an interim dividend for the interim period ended 31 December 2023 and
communicated its intention of changing its year end to align with Sanlam Limited's year end of 31
December 2024. With this in mind, a new dividend policy has been set where dividends will be declared
annually based on audited results and shareholders are therefore reminded that the next dividend payment
will be in May 2025, based on the 2024 calendar year performance.
Full Announcement
This short-form announcement is the responsibility of the Directors of the Company and is a summary of
the information contained in the summarised annual results for the year ended 30 June 2024 which were
released on 3 September 2024 and can be found on the Company's website
(http://www.afrocentric.za.com/inv-reporting.php).
The annual financial statements for the year ended 30 June 2024 were released on SENS on 3 September
2024 and are available for viewing on the following websites:
Company's website: http://www.afrocentric.za.com/inv-reporting.php.
JSE website: https://senspdf.jse.co.za/documents/2024/jse/isse/act/act2024.pdf.
Management will host a virtual investor presentation tomorrow Wednesday, 04 September 2024 at 10:00
SAST. The webcast will be accessible at https://www.acfinal2024.co.za/
This short-form announcement does not contain full or complete details and any investment decision by
investors and/or shareholders should be based on consideration of the information contained in the
summarised annual results for the year ended 30 June 2024, copies of which are also available for inspection
at the Company's offices on workdays during business hours (at no charge) or on request from the company
secretary by email: lebohang.mpumlwana@afrocentrichealth.com
Responsibility Statement
The AfroCentric Board, individually and collectively, accepts responsibility for the information contained in this
announcement insofar as it relates to AfroCentric. In addition, the AfroCentric Board confirms that, to the best
of its knowledge and belief, the information contained in this announcement, as it relates to AfroCentric, is true
and correct and, where appropriate, does not omit anything that is likely to affect the importance of the
information contained herein and that all reasonable enquiries to ascertain such information have been made.
On behalf of the Board
Dr ATM Mokgokong Mr GN van Wyk
Chairman Group Chief Executive Officer
Johannesburg
3 September 2024
JSE Sponsor to AfroCentric
Questco Corporate Advisory Proprietary Limited
Date: 03-09-2024 11:45:00
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