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CAXTON AND CTP PUBLISHERS AND PRINTERS LIMITED - Unaudited Provisional Group Results for the six months to 31 December 2020

Release Date: 19/03/2021 14:41
Code(s): CAT CATP     PDF:  
Wrap Text
Unaudited Provisional Group Results for the six months to 31 December 2020

CAXTON & CTP Publishers & Printers LIMITED 
Incorporated in the Republic of South Africa                                                                            
Registration number: 1947/026616/06
Share code: CAT ISIN: ZAE000043345
Preference share code: CATP ISIN: ZAE000043352                                                                                     


                                                                                           Unaudited         Unaudited       Audited
                                                                                       six months to     six months to       year to
                                                                                         31 December       31 December       30 June
                                                                                  %             2020              2019          2020
                                                                             Change            R’000             R’000         R’000
Revenue                                                                      (19.1)        2 702 441        3 340  208     5 572 359
Profit from operating activities before depreciation and amortisation           0.9          288 706          286  032       350 301
Profit/(loss) for the period                                                  136.3          414 765          175  531      (64 067)
Cash, cash equivalents and listed preference shares                            14.3        1 850 393        1 618  292     1 790 460
Earnings/(loss) per ordinary share (cents)                                    146.5            108,5              44,0        (14,8)
Headline earnings per ordinary share (cents)                                 (18.8)             36,8              45,3          21,2
Net asset value per share (cents)                                               1.1            1 479             1 462         1 384
Ordinary dividend paid per share in respect of the previous year (cents)                           –              60,0          60,0


The current reporting period continued to be impacted by the effects of the COVID-19 pandemic and the resultant lockdown levels
regulated by government. Even though the levels of lockdown relaxed over the period, the level of operating activity, on the whole,
did not return to that of the prior year.

Revenues declined by R637.8 million (19.1%) to R2 702.4 million due to the closure of a number of operations, most significantly,
the magazine publishing and distribution business (R250.1 million), whilst the ongoing operations faced reduced demand and saw their
turnover being curtailed by R387.7 million (12.5%).

The impact of the revenue decline was mostly offset by the savings made in staff costs of R204.1 million (26.5%) and other costs
of R261.6 million (35.0%), which resulted in profit from operating activities before depreciation increasing marginally (0.9%) to
R288.7 million.

The group profit after taxation for the period was R414.8 million and included:

• The sale of our investment in associate companies Octotel (Pty) Ltd, our fibre to home operation, and RSAWeb (Pty) Ltd, our internet
  service provider, resulting in a profit on disposal of R399.3 million;
• Further impairment of plant and equipment (R64.6 million) due to the permanent decline in magazine and newspaper printing
  markets; and
• A decline in net finance income.

Cash, cash equivalents and listed preference shares increased from the year end by R59.9 million to R1 850.4 million which is a
commendable performance taking into account the cash closure costs associated with the discontinued operations and the difficult
trading environment.

The group managed to weather the initial impact of the pandemic and the lockdown on the economy and has emerged leaner, and
more importantly, managed to conserve cash resources. The group has started to deploy some of its cash resources into investments that
should yield a greater return and this is expected to bear fruit into the future.


This short-form announcement is the responsibility of the directors and is only a summary of the information in the full announcement and
does not contain full or complete details. Any investment decisions by investors and/or shareholders should be based on a consideration
of the full announcement.

The full announcement can be found on the company’s website at:; and also on the following link:

and is available at the Company’s registered office and the offices of the sponsor during office hours.

By order of the board
19 March 2021

Executive Directors:                                         Independent Non-Executive Directors:
TD Moolman, TJW Holden, LR Witbooi                           PM Jenkins, ACG Molusi, NA Nemukula, J Phalane, T Slabbert

Transfer Secretaries:                                        Registered Office:
Computershare Investor Services Proprietary Limited          28 Wright Street, Industria West, Johannesburg

Sponsor: AcaciaCap Advisors Proprietary Limited              Company website:

Date: 19-03-2021 02:41:00
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