Argent Industrial Reports 7% Profit Rise and 12.6% Operating Profit Growth for FY2024

  • Argent Industrial's FY2024 saw a 7% rise in profit, reaching R252.3 million.
  • Operating profit increased by 12.6%, totaling R342.7 million.
  • Shareholders approved a final dividend of 60 cents per share, totaling 115 cents for FY2024.

Argent Industrial Limited has released its audited annual results for the year ended March 31, 2024. The company showed steady growth across key financial metrics.

Income Statement Highlights

  • Revenue increased by 3.5% to R2.54 billion from R2.46 billion in FY2023.
  • EBITDA grew by 9.6% to R394.6 million from R360 million.
  • Operating profit rose by 12.6% to R342.7 million from R304.4 million.
  • Profit for the year improved by 6.8% to R252.3 million from R236.3 million.
MetricFY2024 (R’000)FY2023 (R’000)% Change
Operating Profit342,729304,35812.6%
Profit for the Year252,305236,2656.8%

Balance Sheet Summary

The company’s total assets increased by 16.4% to R2.51 billion, while total liabilities rose by 22.6% to R792.8 million. Shareholders’ funds grew by 13.8% to R1.72 billion.

MetricFY2024 (R’000)FY2023 (R’000)% Change
Total Assets2,514,6702,159,58916.4%
Total Liabilities792,761646,59622.6%
Shareholders’ Funds1,721,9091,512,99313.8%
Net Asset Value per Share (cents)3,115.42,683.616.1%

Earnings and Dividends

Earnings per share (EPS) showed positive growth, with basic EPS up by 7.0% to 441.9 cents. Diluted EPS increased by 7.4% to 441.9 cents. Headline EPS rose by 6.6% to 438.5 cents.

MetricFY2024 (cents)FY2023 (cents)% Change
Basic EPS441.9413.17.0%
Diluted EPS441.9411.37.4%
Headline EPS438.5411.36.6%
Diluted Headline EPS438.5409.57.1%
Dividends per Share115.095.021.1%

The Board has declared a final gross dividend of 60 cents per share, bringing the total dividend for FY2024 to 115 cents per share, up by 21.1% from 95 cents per share in FY2023.

Dividend Details

Key DatesInformation
Last day to trade cum dividend16 July 2024
Trading ex-dividend starts17 July 2024
Record date19 July 2024
Payment date22 July 2024

Shareholders not exempt from dividend tax will receive a net dividend of 48 cents per share after a 20% withholding tax.

Annual General Meeting

The company will hold its annual general meeting (AGM) on 22 August 2024 at 11:00 AM. The AGM will take place at the company’s boardroom, located at First floor, Ridge 63, 8 Sinembe Crescent, La Lucia Ridge Office Estate, Umhlanga.

AGM DetailsInformation
VenueFirst floor, Ridge 63, 8 Sinembe Crescent, La Lucia Ridge Office Estate, Umhlanga
Record date for notice21 June 2024
Notice publication date27 June 2024
Last day to trade for AGM eligibility13 August 2024
Record date for AGM eligibility16 August 2024
Proxy submission deadline20 August 2024
AGM date22 August 2024
Results publication date22 August 2024


Argent Industrial Limited has demonstrated solid financial performance for FY2024. Revenue, EBITDA, and profit figures have shown healthy growth, while the balance sheet remains robust. The significant increase in dividends reflects the company’s strong financial health and commitment to returning value to shareholders. Investors and stakeholders are encouraged to review the full annual report for comprehensive details.