Fintech group Capital Appreciation has returned R603 million, or 44.5c per share, to shareholders in the form of dividends over the last seven years.
According to the company, the units performed well despite weak business confidence, and in a lacklustre economy, the group continued to attract new customers and grow its market share. The financial results benefited from improved operational performance, higher finance income, a significantly reduced expected credit loss raised for GovChat and the first-time contribution of the Dariel Group , it says.
Its divisions are asset-light and highly cash-generative, with cash generated from operations this year increasing by 75% to R319.7 million and resulting in available cash resources of R467.4 million. This will be employed to fund organic growth, acquisition opportunities, investments, as well as further share repurchases, it states.
According to Capital Appreciation, excellent expense management and operational performance grew EBITDA by 20% to R248 million and boosted margins from 39% to 44%.
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