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Results were boosted by the acquisition of WeBuyCars. 11:43
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Transaction Capitalâs results provide an interesting view into the state of the economy. The two core traditional parts of the business â SA Taxis and debt recovery â show surprisingly strong results for the six months to March.
Core headline earnings came in at R437 million, up 56% from the prior year, making it a compound annual growth rate of 17% over the past seven years.
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Annual results. SA Taxi and all the businesses recovered to at least 2019 levels operationally, and delivered financial numbers exceeding 2019: CEO David Hurwitz.
Taxi financier Transaction Capital eyes post pandemic organic growth
By Dineo Faku
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JOHANNESBURG - Listed taxi financier Transaction Capital expects to resume dividend payments in the medium term as it eyes organic growth in 2021 following the Covid-19 pandemic.
The group said in its 2020 integrated annual report released yesterday) that its current assessment of operating conditions and growth prospects saw it resuming its strong organic growth trend in the coming year, with 2021 exceeding 2019 levels in line with pre-Covid-19 growth rates.
“Should this expectation materialise, we anticipate being in a position to resume dividend payments within our stated dividend policy in the medium term,” said group chairperson Christopher Seabrooke.
RBH to invest R500m in Transaction Capital, acquire further 12.4 million shares
Transaction Capital SENS statement:
Royal Bafokeng Holdings (RBH) was introduced as a strategic shareholder in Transaction Capital during November 2020 (as reported in the FY20 results announcement).
`We are pleased to announce RBH’s intention to invest R500 million into the group as a long-term strategic shareholder. 12 million Transaction Capital shares, representing approximately 1.8%, were acquired via a secondary purchase in the market on 20 November 2020. RBH is expected to increase its stake by subscribing for a further 12.4 million shares in January 2021, subject to shareholder approval. A circular to shareholders and notice of general meeting in this regard will be distributed in due course.`