Wrap Text
Reviewed Provisional Group Results and Dividend Declaration for the year ended 30 June 2026
CAXTON&CTP publishers & printers Limited
Incorporated in the Republic of South Africa
Registration number: 1947/026616/06
Share code: CAT
ISIN: ZAE000043345
Preference share code: CATP
ISIN: ZAE000043352
REVIEWED PROVISIONAL GROUP RESULTS AND DIVIDEND DECLARATION
FOR THE YEAR ENDED 30 JUNE 2026
Reviewed Audited
for the year for the year
ended ended
30 June 30 June
% 2026 2025
Change R'000 R'000
Revenue (1,8) 6 587 809 6 709 078
Profit from operating activities before depreciation and amortisation (5,6) 781 698 828 027
Profit from operating activities after depreciation and amortisation (7,4) 525 936 567 706
Profit for the year (3,0) 579 646 597 793
Cash and cash equivalents 1,6 3 072 681 3 024 829
Earnings per share (cents) (3,4) 162,7 168,4
Headline earnings per share (cents) (5,7) 168,6 178,8
Net asset value per share (cents) (3,3) 2 230 2 306
Ordinary dividend declared/paid per share (cents) 157,1 180,0 70,0
COMMENTARY:
The Group is directly affected by consumer demand in almost all aspects of its various diverse businesses. The downturn in the world economy since the intensifying
of the Middle East conflict has eroded consumer sentiment and had a direct effect on our Group. At the half-year reporting period there was some reason to be
optimistic that economic conditions (lower inflation and interest rates combined with the Rand strengthening) favoured better growth prospects. This was ultimately
dashed by the Iran war, which saw a reversal of the optimism with fuel prices, inflation and Rand volatility increasing, and led to the Reserve Bank hiking interest rates.
The current world economic outlook continues to impact consumer confidence and spending negatively. The declining revenue trends experienced in the previous reporting
period intensified further in the period to financial year end. The pressure on revenue combined with new inflationary cost pressures and a reduced dividend from our
investment in Mpact Limited (down R22.7 million), saw our overall performance fall marginally for the full financial year, as follows:
- Headline earnings per share of 168.6 cents - a decline of 5.7% over the prior year (178.8 cents).
- Earnings per share of 162.7 cents - a decline of 3.4% over the prior year (168.4 cents).
- Net asset value per share of R22.30 (2025: R23.06) - a decrease of 3.3% - mainly as a result of the market-to-market revaluation of our investment in Mpact Limited.
On an overall basis, revenues proved difficult to grow in the current trading environment where economic growth is superficial. Group revenues declined marginally
by R121.3 million (1.8%). This decline was felt mainly in our local newspaper publishing and printing operations and partly offset by some growth in the packaging
and stationery segment. Raw material pricing remained relatively stable during the period under review, but recently there has been an upward movement in pricing
on the back of increased logistics and energy costs. The closure of the Mpact mill in Springs is now complete and we have managed to migrate supply to our overseas
sources without interruption; again, another benefit of our diversified supply strategy. Staff costs and other operating costs remain well controlled - staff costs
grew by 0.8% and operating costs by 0.1%. The control of these costs remains paramount in the current environment of limited growth. The Group faced significant
increases in distribution costs as the increased diesel price led to surcharges that were difficult to recover from customers, and combined with increased utility costs
(water and electricity) and diesel costs for generators, placed cost containment under pressure. Profit from operating activities before depreciation and amortisation
declined by R46.3 million (5.0%), while profit after depreciation and amortisation declined by R41.7 million (7.4%). Plant impairment costs of R38.3 million comprise
mainly the further impairment of our Durban commercial printing plant, on the back of reduced tonnages and cash generating ability, and the inoperative battery storage
system installed at our original pilot site. Net finance income increased by R5 million, as the decline in interest and dividend income was more than negated by foreign
exchange profits. Group profit before taxation was R748.6 million - after taxation of R169 million, the profit was R579.6 million. The Group ended the year with cash and
cash equivalents of R3 072.7 million, up by R47.9 million on the prior year, after paying an increased dividend of R382.7 million above the prior year.
The Company's auditors, Forvis Mazars, have reviewed the results. Their unmodified review conclusion is available for inspection at the registered office of the Company.
DIVIDEND:
The Board has declared a dividend of 80.0 cents (2025: 70.0 cents) per ordinary share (gross) and a preference dividend of 650.0 cents(2025: 570.0 cents) per preference
share (gross) for the year ended 30 June 2026. The dividends are subject to the Dividend Withholding Tax.
In accordance with the provisions of the JSE Listings Requirements, the following additional information is disclosed:
- the Dividend has been declared out of profits available for distribution
- the Dividend Withholding Tax rate is 20%
- the gross dividend amount is 80.0 cents per ordinary share and 650.0 cents per preference
share for shareholders exempt from Dividend Withholding Tax
- the nett dividend amount is 64.0 cents per ordinary share and 520.0 cents per preference share
for shareholders liable for Dividend Withholding Tax
- the Company has 353 464 227 ordinary shares in issue
- the Company has 50 000 preference shares in issue
- the Company's income tax reference number is: 9175/167/71/8
The following dates are applicable to the dividends:
The last date to trade to be eligible for the dividend will be Tuesday, 1 December 2026.Shares will trade ex-dividend from Wednesday, 2 December 2026.
The record date will be Friday, 4 December 2026 and payment will be made on Monday, 7 December 2026. Share Certificates may not be dematerialised or
materialised between Wednesday, 2 and Friday 4 December 2026, both days inclusive.
PROSPECTS:
The economic environment is likely to continue on the same muted and flat trajectory as the prior year - except possibly for some relief should the war in the
Middle East be resolved. The Group will continually explore new markets and acquisitions that can be integrated into our well capitalised facilities.
As always, margin and cost management remain a continual focus and where necessary, remedial action will be taken.
STATEMENT:
This short-form announcement is the responsibility of the directors and is only a summary of the information in the full announcement and does not contain full or
complete details. The full announcement will be released on 11 September 2026 and can be found on the company's website at https://www.caxton.co.za/sens and also
on the following link:https://senspdf.jse.co.za/documents/2026/JSE/ISSE/CAT/CATAR2026.pdf.
The full announcement is available at the Company's registered office and the offices of the sponsor during office hours. Any investment decision should be based on the
full announcement published on the Company's website.
By order of the board
11 September 2026
Executive Directors: TD Moolman, TJW Holden, LR Witbooi
Independent Non-Executive Directors: PM Jenkins, ACG Molusi, NA Nemukula, JH Phalane, T Slabbert
Transfer Secretaries: Computershare Investor Services Proprietary Limited
Registered Office: 368 Jan Smuts Avenue, Craighall Park, 2196
Sponsor: AcaciaCap Advisors Proprietary Limited
Company website: www.caxton.co.za
Date: 11/09/2026 09:43:00
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