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Trading statement
AFROCENTRIC INVESTMENT CORPORATION LIMITED
Incorporated in the Republic of South Africa
Registration Number: 1988/000570/06
JSE Code: ACT
ISIN: ZAE 000078416
("AfroCentric")
TRADING STATEMENT
In terms of paragraph 3.4(b)(i) of the JSE Limited Listings Requirements, companies are required to
provide guidance to the market when they are satisfied that a reasonable degree of certainty exists that
the financial results for the six months ended 31 December 2024 (the "current reporting period") to be
reported on, will differ by at least 20% from the twelve months ended 30 June 2024 (the "previous
corresponding period").
Accordingly, AfroCentric shareholders are advised that:
• A loss per share for the current reporting period is expected to be between 14.63 cents and 15.29
cents in comparison to the earnings per share of 6.67 cents per share in the previous
corresponding period (as previously reported); and
• headline earnings per share for the current reporting period is expected to be between 1.78 cents
and 5.82 cents reflecting a decrease of between 85.6% and 95.6% in comparison to the 40.32
cents per share in the previous corresponding period (as previously reported).
Due to AfroCentric changing its financial year end from 30 June to 31 December, the loss per share
and headline earnings per share for the six months ended 31 December 2024 is not comparable to
earnings per share and headline earnings per share for the year ended 30 June 2024.
The decline in headline earnings and earnings per share over the comparable six-month period is
attributed to a combination of factors including our investment in digital and clinical capabilities, with a
view of accelerating our strategy, and adverse trading conditions arising in the retail cluster. Earnings
per share is further impacted by lower profitability due to margin erosion and channel pressure arising
in the retail cluster, resulting in an impairment of goodwill within the retail cluster.
Despite reporting a decline in profitability over the last six-months, Afrocentric remains confident in the
execution of its strategy, supported by a resilient balance sheet, that is anticipated to ensure a return
to growth and long-term sustainability.
Further information will be provided in AfroCentric's results for the current financial period, which are
expected to be published on or about 3 March 2025.
The financial information on which this trading statement is based has not been audited, reviewed, or
reported on by AfroCentric's external auditors.
Johannesburg
27 February 2025
Sponsor
Questco Corporate Advisory (Pty) Ltd
Date: 27-02-2025 09:30:00
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