Capital Appreciation’s revenue jumps more than six-fold to R571m
Capital Appreciation (Capprec) was "exceptionally cash generative" in the year to end-March, declaring a final dividend of 2c which took its "maiden annual dividend" since listing in 2015 to 4c.Capprec listed on the JSE as a special-purpose acquisition company (spac) focused on the fintech sector. Its results, released on Wednesday morning, reflected its first 11 months of owning operating companies, following its acquisitions of African Resonance, Dashpay and Synthesis Software Technologies.The inclusion of its new subsidiaries saw revenue jump more than six-fold to R571m from R80m. After-tax profit increased nearly three-fold to R143m from R39m. Headline earnings per share (HEPS), rose 204% to 9.53c.At the end of March, the company had cash resources of R513.2m, compared to R1.1bn in 2017. However, the 2018 position was after the company had accounted for the payment of an interim dividend in December, the buy-back of 55.6-million of its own shares, along with provisional taxes.Th...
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