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Summarised unaudited interim results for the six months ended 31 December 2022
AfroCentric Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE Code: ACT ISIN: ZAE000078416
(“the Company" or AfroCentric”)
Summarised unaudited interim results for the six months ended 31 December 2022
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 six months ended
31 December 2022.
Salient Features
% Unaudited six Unaudited six
change months ended months ended
31 December 31 December
2022 2021
Total revenue from contracts with customers (R’ 1.2 4 322.1 4 269.6
million)
Profit before tax (R’ million) (17.2) 270.9 327.3
Profit for the year (R’ million) (16.9) 194.4 233.6
Basic earnings (R’ million) (18.5) 125.8 154.3
Headline earnings (R’ million) (18.7) 125.7 154.5
Basic earnings (cents per share) (18.8) 21.79 26.83
Headline earnings (cents per share) (19.0) 21.76 26.86
Weighted average number of ordinary shares 577.4 million 575.1 million
Dividend declared (cents per share) (100.0) 0 17
Dividends
The Board has decided to follow a prudent approach to short term cash flow funding by postponing the
interim dividend due to the significant increase in the trade receivables. A final full year dividend will be
considered at year end in accordance with the Board’s assessment of the Group’s solvency and liquidity
at that point in time.
Full Announcement
This short-form announcement is the responsibility of the Directors of the Company and is a summary of the
information in the full announcement and does not contain full or complete details. The full announcement is
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
Any investment decision by investors and/or shareholders should be based on consideration of the information
contained in the full announcement released on SENS, 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
Chairperson Group Chief Executive Officer
Johannesburg
13 September 2022
JSE Sponsor to AfroCentric
Questco Corporate Advisory Proprietary Limited
Date: 13-03-2023 09:36:00
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