Acsion Limited has released its reviewed condensed consolidated financial results for the fiscal year ended 29 February 2024. The company also declared its cash dividend for the year.
Key Financial Highlights
Acsion showcased robust financial performance across key metrics:
| Metric | FY2024 | FY2023 | Change |
|---|---|---|---|
| Revenue | R1.43 billion | R1.19 billion | +21% |
| Earnings Per Share (EPS) | 270 cents | 231 cents | +17% |
| Headline Earnings Per Share | 98 cents | 120 cents | -18% |
| Net Asset Value Per Share | 2 662 cents | 2 391 cents | +11% |
| Final Dividend | 16 cents per share | 18 cents per share | -11.11% |
Revenue Growth and Earnings
Acsion reported a significant 21% increase in revenue, reaching R1.43 billion compared to R1.19 billion in the previous fiscal year. This growth underscores the company’s expanding market presence and operational efficiency.
Earnings per share (EPS) rose by 17% to 270 cents, reflecting improved profitability driven by strategic initiatives and effective cost management.
Dividend Declaration
The board of directors approved a final cash dividend of 16 cents per share for FY2024, down from 18 cents per share in FY2023. The dividend will be paid from income reserves to all shareholders.
Shareholders not exempt from South African dividend tax will receive a net dividend of 12.80 cents per share, after deducting the 20% dividend tax.
Financial Position and Outlook
Acsion’s net asset value per share increased by 11% to 2 662 cents, indicating strengthened financial health and enhanced shareholder value. The company remains focused on sustainable growth and capital efficiency.
Important Dates for Dividend Payment
The payment of the final dividend will follow these key dates:
- Last day to trade cum dividend: 30 July 2024
- Shares commence trading ex dividend: 31 July 2024
- Record date: 2 August 2024
- Payment date: 5 August 2024
During the ex-dividend period, shares cannot be rematerialised or dematerialised.
Conclusion
Acsion Limited’s fiscal year 2024 results demonstrate robust revenue growth and enhanced earnings per share, albeit with a decrease in headline earnings per share. The company’s commitment to shareholder value is evident in the declared dividend, underscoring its financial strength and strategic direction.