Published 23 December 2019, 1:59 pm by Business Report

CAPE TOWN – JSE-listed African Equity Empowerment Investments Limited (AEEI), a diversified investment and empowerment company, today announced another set of exceptional financial results with a record increase in revenue, headline earnings and asset base for the year.

The Group’s financial results confirm the delivery of excellent revenue and profit growth resulting from strong contributions from all its underlying investments, with a combination of organic and acquisitive growth.

AEEI’s strategy to consistently increase its operations and portfolio is evident by the exceptional growth in Group revenue which increased significantly by 243% from R701 million to R2.4 billion.

Group headline earnings increased by 276% from R119 million to R448 million, with HEPS increasing from 24.24 cents to 91.16 cents. Net Asset Value (NAV) for the Group grew by 12% from R5.6 billion to R6.3 billion, while net cash generated from operating activities increased by 9% year-on-year from R131 million to R143 million, all of which is in line with the Group’s strategy.

Please read the full article here.

On the Rise

Cape Town, 20 December 2019 – JSE-Listed AYO Technology Solutions Limited (AYO), today announced its preliminary condensed consolidated financial results for the year ended 31 August 2019. AYO’s audit partners, BDO South Africa Incorporated, issued an unmodified reviewed opinion on the results. Despite the operating and economic challenges of 2019, AYO delivered a strong financial performance, posting significant increases in revenue and profit before tax, among other positives.

Commenting on the Group’s performance, Chief Executive Officer, Howard Plaatjes said: “These positive results are a testament to the tenacity and professionalism of our teams, as well as the excellent products and services the group companies continue to deliver to a wide range of local and international clients.”


  • Revenue increased by 207% to R1.9 billion from R639 million in the prior year
  • Profit before tax increased by 47% to R288 million from R196 million in the prior year
  • Total assets increased by 11% to R5.2 billion from R4.7 billion in the prior year
  • Earnings per share increased by 15% to 54.29 cents per share from 47.20 cents per share in the prior year
  • Headline earnings per share increased by 11% to 53.53 cents per share from 48.32 cents per share in the prior year.

Please read the full statement December 2019 press release final