Transaction Capital, which had earlier warned it would report sharply lower earnings, losses even, for the 2024 financial year, said its results announcement, which had been due to be published yesterday, had been delayed.
The share price fell sharply by 5.36% to R2.65 by early yesterday afternoon.
It said in an announcement that its results for the year to September 30, 2024 were ready, but the preparation of certain notes to the statements had been delayed largely as a result of changes relating to its taxi financing subsidiary SA Taxi.
SA Taxi was included under discontinued operations for the financial year 2024.
In an earlier trading statement, the group forecasted headline earnings per share to be between -18.4 cents to 1.1 cents, representing a decline of -109% to -99% from the 198.3 cents headline profit the previous year.
The total basic loss per share was expected to be between R-892 million to R-108 million for the year to September 30.
SA Taxi reported a R3.7 billion headline loss from continuing operations in the prior 2023 financial year, driven primarily by a R1.1bn increase in repossessed vehicle stock write-downs.
Transaction Capital’s other subsidiary WeBuyCars was listed separately on the JSE on April 14, 2024. Meanwhile, Nutun Transact, Accsys, and Nutun Credit Health were sold to Q Link Holdings on November 1, 2024.
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