Cash flush Capital Appreciation maintains dividend despite tough economy

Fintech and software group Capital Appreciation maintained its interim dividend as earnings held up despite a difficult economic backdrop.

Revenue rose 3% to R554.2 million in the six months ended 30 September 2023, while headline earnings more than doubled to R80.6 million, partly benefiting from a three-month contribution from recently acquired Dariel Solutions. Cash from operations climbed 55% from the prior corresponding period to R159.9 million, allowing for an interim dividend of 4.25 cents per share, equal to the shareholder distribution in the previous half-year.

"Our continued investment in growth-related initiatives, including additional skills, new technology solutions, developing proprietary owned software and international expansion has positioned the group well to meet this demand," Capital Appreciation CEO Bradley Sacks said in a statement on Monday announcing the group’s half-year results.