Wrap Text
Unaudited Condensed Interim Results for the six months to 31 December 2025 and dividend announcement
Transpaco Limited
(Incorporated in the Republic of South Africa)
Registration number: 1951/000799/06
ISIN: ZAE000007480
JSE Share code: TPC
("Transpaco" or "the company" or "the group")
Unaudited Condensed Interim Results for the Six months to 31 December 2025 and dividend announcement
- NET ASSET VALUE PER SHARE 3 597 CENTS
- HEADLINE EARNINGS PER SHARE 254 CENTS
- DIVIDEND PER SHARE 70 CENTS
FINANCIAL RESULTS
Unaudited Audited
Unaudited six months Unaudited twelve
six months December six months months
December 2025 December June
2025 % change 2024 2025
Revenue (R'000) 1314,5 (1,5) 1334,7 2 432,4
Operating profit (R' million) 102,4 (6,1) 109,0 207,6
Profit before taxation (R' million) 96,8 (9,0) 106,5 200,4
Earnings and diluted earnings per share (cents) 253,3 (6,0) 269,4 517,4
Headline and diluted headline earnings
per share (cents) 253,6 (6,0) 269,7 516,2
Total gross dividend per share (cents) 70,0 (6,7) 75,0 235,0
Net asset value per share (cents) 3597,0 7,7 3341,0 3 503,0
Operating margin (%) 7,8 (4,9) 8,2 8,6
Net interest-bearing debt: equity ratio (%) 3,6 25,0 4,8 0,6
INTRODUCTION
Transpaco's results for the six months ended 31 December 2025 ("the period") reflect a 6,0%
decrease in headline earnings per share (HEPS) to 253,6 cents (December 2024: 269,7 cents).
The current economic conditions continue to constrain revenue growth, which reduced by 1,5%
to R1 314,5 million (December 2024: R1 334,7 million). Operating profit declined 6,1% to
R102,4 million (December 2024: R109,0 million), while headline earnings decreased by 9,3%
to R70,6 million (December 2024: R77,8 million). Revenue increased by 1,1% in the
Plastics Division and decreased by 4,6% in the Paper and Board Division. Traditionally,
revenue is higher in the first six months of the financial year due to the seasonal nature
of the business. The reduction in operating margin to 7,8% (December 2024: 8,2%) contributed
to the group's operating profit decreasing by 6,1%.
Dividend
The board has declared an interim gross cash dividend out of income reserves of 70,0 cents
per share (December 2024: 75,0 cents per share) for the six months ended 31 December 2025.
After applying the dividend withholding tax of 20%, a net interim dividend of 56,0 cents
per share will be paid to those shareholders who are not exempt from the dividends tax.
The issued shares at the date of declaration is 27 839 388 ordinary shares. The Income
Tax reference number is 9975/112/71/6.
The salient dates for the dividend are as follows:
Last date to trade shares cum dividend Tuesday, 10 March 2026
Shares trade ex-dividend Wednesday, 11 March 2026
Record date Friday, 13 March 2026
Payment date Monday, 16 March 2026
Share certificates may not be dematerialised or rematerialised between Wednesday,
11 March 2026 and Friday, 13 March 2026, both days inclusive.
ADMINISTRATIVE INFORMATION
This short-form announcement is the responsibility of the directors and is only a summary
of the information in the full announcement. The full announcement was released on SENS on
18 February 2026, and can be found on the company's website at www.transpaco.co.za and on
the following JSE link:
https://senspdf.jse.co.za/documents/2026/jse/isse/TPC/Interims.pdf.
Any investment decision should be based on the full announcement published on SENS and on
the company's website as this announcement does not include all details.
The information contained in this short form announcement has not been reviewed or reported
on by the company's auditors.
This short form announcement and the results contained in this short form announcement have
been prepared in compliance with the JSE Limited's Listings Requirements.
On behalf of the board
DJJ Thomas PN Abelheim L Weinberg
Non-executive Chairman Chief Executive Officer Chief Financial Officer
18 February 2026
DIRECTORS
DJJ Thomas (Non-executive Chairman)*; PN Abelheim (Chief Executive Officer); L Weinberg (Chief Financial Officer).
HA Botha**; SR Bouzaglou; SY Mahlangu**; SP van der Linde (Lead Independent Director)**
*Non-executive **Independent non-executive
Auditors BDO South Africa Incorporated
Company Secretary HJ van Niekerk
Sponsor Investec Bank Limited
Registered office 331 6th Street, Wynberg, Sandton
Transfer secretaries Computershare Investor Services (Pty) Limited, Rosebank Towers,
15 Bierman Avenue, Rosebank, Johannesburg
Website www.transpaco.co.za
Date: 18-02-2026 12:42:00
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