JSE-listed fintech specialist Capital Appreciation has reported a strong 2024 financial performance.
has grown its revenue by 19% to R1.18-billion for the year ended 31 March 2024.group came in spite of “weak business confidence” thanks to a diversified revenue mix, with new products and services spread across more sectors and regions.
Group Ebitda – earnings before interest, tax, depreciation and amortisation – grew by 53% year on year from R164.9-million in R252.8-million. It has a healthy balance sheet, with cash reserves at year-end of R467.4-million. Cash generated from operations rose by 75%.The payments division has slowly been transitioning away from a reliance on income from the sale of point-of-sale terminals towards annuity income from rentals on these devices as well as after-sales services.
According to the group, many large-scale contracts were put on hold due to market uncertainty in the first half of the year.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Applications for WeThinkCode_ 2024 open, but space is limitedWeThinkCode_ applications for 2024 close at the end of July 2024. WeThinkCode_ applications for 2024 close at the end of July 2024.
Read more »
Capital Appreciation is boomingCapital Appreciation Limited has published its annual results for the 12 months ended 31 March 2024.
Read more »
Mount Logan Capital Inc. Announces First Quarter 2024South Africa Today, News source, provides breaking news on South Africa, world, Africa, sport, travel and more.
Read more »
Deloitte 2024 Tech Trends report published – Here are the key insightsThe Deloitte 2024 Tech Trends report was unveiled at an exclusive event on 9 May 2024.
Read more »
Capital Appreciation maintains year-on-year dividend growthIn a lacklustre economy, the fintech group continued to attract new customers and grow its market share, says the firm.
Read more »
Capital Appreciation maintains year-on-year dividend growthIn a lacklustre economy, the fintech group continued to attract new customers and grow its market share, says the firm.
Read more »