AFROCENTRIC INVESTMENT CORPORATION LIMITED - Summarised audited results for the year ended 30 June 2023

Summarised audited results for the year ended 30 June 2023

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 audited results for the year ended 30 June 2023

Introduction to the AfroCentric Group

AfroCentric is a Level 1 JSE 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 its presence across the healthcare sector.

The Board presents a summary of the Company’s results for the year ended 30 June 2023.

Salient Features
                                                            %             Year ended           Year ended
                                                       change           30 June 2023         30 June 2022

Total revenue from contracts with customers (R’            2.0               8 868.0              8 693.2
million)
Profit before tax (R’ million)                          (37.0)                 426.5                676.7
Profit for the year (R’ million)                        (38.5)                 294.7                478.8
Basic earnings (R’ million)                             (41.6)                 182.7                312.8
Headline earnings (R’ million)                          (31.4)                 216.4                315.7
Basic earnings (cents per share)                        (43.7)                 30.56                54.32
Headline earnings (cents per share)                     (34.0)                 36.20                54.81
Weighted average number of ordinary shares                             597.8 million        575.9 million
Dividend declared (cents per share)                    (100.0)                     0                   34


Dividends

After assessing the Group’s funding and working capital requirements for the short term, the Board
prudently decided not to declare a final dividend. A new dividend policy is being considered linked to the
short term acquisition and investment opportunities.

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 audited results for the year ended 30 June 2023 which were
released on 18 September 2023 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 2023 were released on SENS on 18 September
2023 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/2023/jse/isse/act/act2023.pdf

Management will host a virtual investor presentation tomorrow Tuesday, 19 September 2023 at 10:00
SAST. The webcast will be accessible at https://www.acfinal2023.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 audited results for the year ended 30 June 2023, 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: billym@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 pertaining to AfroCentric and that all reasonable enquiries to ascertain such
information have been made.


On behalf of the Board


Dr ATM Mokgokong                                           Mr A Banderker
Chairman                                                   Group Chief Executive Officer

Johannesburg
18 September 2023

JSE Sponsor to AfroCentric
Questco Corporate Advisory Proprietary Limited

Date: 18-09-2023 12:45:00
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