Latest news with #R13.6bn
The Herald
23-04-2025
- Business
- The Herald
Shareholders score big after record Capitec earnings
Capitec, South Africa's biggest retail bank by customers, is increasing its payout to shareholders after record annual earnings. The group's return on equity increased to 29% during the year under review, paving the way for the dividend payout to 55% from 50%. Capitec reported a 30% jump in headline earnings to R13.6bn from R10.6bn a year ago with financial highlights including a 54% increase in net interest income after credit impairments to R11.9bn. The group reported a 7.5% credit loss ratio, a 61% increase in value added services and Capitec Connect to R4.4bn and a 44% jump in funeral and life income to R1.9bn. The bank said more than 11-million clients now used the Capitec app to purchase airtime, data, electricity, vouchers and to pay bills. 'The bank captures more than 40% of South Africa's airtime and data transactions and one in five digital vehicle licence renewals now occur on its platform.' Capitec CEO Gerrie Fourie said: 'Through our high-volume, low-margin business model, we are enabling everyone to access solutions that allow them to take control of their finances, protect their families, manage businesses and unlock opportunities. Our purpose-driven strategy is helping us scale sustainably and, most importantly, it is assisting 24-million South Africans to grow every day.' Capitec, which was previously predominantly a credit lender, said its diversification strategy had paid off as personal banking now contributes 45% of total earnings, insurance accounts for 25%, strategic initiatives contribute 23% and business banking makes up 5%. TimesLIVE
TimesLIVE
23-04-2025
- Business
- TimesLIVE
Shareholders score big after record Capitec earnings
Capitec, South Africa's biggest retail bank by customers, is increasing its payout to shareholders after record annual earnings. The group's return on equity increased to 29% during the year under review, paving the way for the dividend payout to 55% from 50%. Capitec reported a 30% jump in headline earnings to R13.6bn from R10.6bn a year ago with financial highlights including a 54% increase in net interest income after credit impairments to R11.9bn. The group reported a 7.5% credit loss ratio, a 61% increase in value added services and Capitec Connect to R4.4bn and a 44% jump in funeral and life income to R1.9bn. The bank said more than 11-million clients now used the Capitec app to purchase airtime, data, electricity, vouchers and to pay bills. 'The bank captures more than 40% of South Africa's airtime and data transactions and one in five digital vehicle licence renewals now occur on its platform.' Capitec CEO Gerrie Fourie said: 'Through our high-volume, low-margin business model, we are enabling everyone to access solutions that allow them to take control of their finances, protect their families, manage businesses and unlock opportunities. Our purpose-driven strategy is helping us scale sustainably and, most importantly, it is assisting 24-million South Africans to grow every day.' Capitec, which was previously predominantly a credit lender, said its diversification strategy had paid off as personal banking now contributes 45% of total earnings, insurance accounts for 25%, strategic initiatives contribute 23% and business banking makes up 5%.
Zawya
05-03-2025
- Business
- Zawya
South Africa: RCL Foods posts profit surge, resumes dividends
South African food producer RCL Foods reported a 38.8% rise in half-year earnings on Monday, 3 March 2025, and declared its first interim dividend in two years, sending its shares up more than 8%. The company, whose brands include Selati sugar and Sunbake bread, had been completing a portfolio review that included selling its frozen food business Vector Logistics and spinning off and listing its Rainbow Chicken poultry unit. During that review, and while grappling with depressed consumer demand, it withheld paying dividends, with the last interim dividend declared for the six months to December 2021, which it paid in 2022. With the processes concluded, the board declared an interim dividend of 20c per share for the six months ended December 2024. RCL said its headline earnings per share from continuing operations rose to 109.4 South African cents in the period. Its earnings before interest, taxes, depreciation, amortisation and impairments (EBITDA) jumped 25.1% to R1.5bn, supported by cost savings and production efficiencies. RCL said it has begun to see some welcome price relief in certain commodities such as wheat, contributing to improved margins in its groceries and baking businesses, though prices remain elevated. Group revenue rose 5.4% to R13.6bn. With the portfolio review now complete, chief financial officer, Rob Field told Reuters the group is quite settled with the remaining portfolio, but did not rule out further acquisitions. "We're very clear going forward that if opportunities present themselves in the branded food space, we're going to look closely at that because that's the closest to a strategic fit and what we believe we can add the most value to," Field said. RCL will no longer be chasing any commodity type businesses, Field added. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
