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AFROCENTRIC INV CORP LTDAFROCENTRIC INV CORP LTDAFROCENTRIC INV CORP LTD

AFROCENTRIC INV CORP LTD

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ACT trade ideas

Our opinion on the current state of AFRO-C(ACT)Afrocentric (ACT) is a black-owned investment holding company that focuses on health administration and insurance. Sanlam recently acquired 28,7% of the company, which will help with its financing and marketing. The group owns: - 100% of Pharmacy Direct (a courier company). - 100% of Curasana (a pharmaceutical wholesaler). - 100% of Activo Health, having recently acquired the remaining 74% for R588m in cash and shares, at a multiple of 9,3 times Activo's most recent after-tax profit (R63m). Its largest asset is its controlling stake in Medscheme, which administers medical schemes covering 3,2m lives in South Africa, Namibia, Kenya, Botswana, Zimbabwe, and Swaziland. Afrocentric is intent on leveraging the Medscheme client base to sell its other products. On 11th October 2022, Sanlam made an offer to buy between 36,9% and 43,9% of Afrocentric for R6 per share, causing the share price to rise sharply. In its results for the six months to 31st December 2024, the company reported revenue down 51,8% and headline earnings per share (HEPS) down 90,6%. The company said, *"The directors have no reason to believe that the Group will not be a going concern in the foreseeable future based on review of forecasts and budgets and available cash resources."* Technically, the share bounced off support at around 280c, but the recent results disappointed, and it has fallen further to 143c. We advise waiting for it to break up through its downward trendline before investigating further.
JSE:ACT
by PDSnetSA
Our opinion on the current state of ACTAfrocentric (ACT) is a black-owned investment holding company which focuses on health administration and insurance. Sanlam recently acquired 28,7% of the company which will help with its financing and marketing. The group owns 100% of Pharmacy Direct (a courier company), 100% of Curasana (a pharmaceutical wholesaler) and has recently acquired the other 74% of Activo Health (which distributes generic medicines and nutraceuticals) to give it 100%. This acquisition was executed for R588m in cash and shares, which is a multiple of 9,3 times Activo's most recent after-tax profit (R63m). Its largest asset is its controlling stake in Medscheme which administers medical schemes covering 3,2m lives in South Africa, Namibia, Kenya, Botswana, Zimbabwe and Swaziland. Afrocentric is intent on accessing the Medscheme client base to sell its other products. On 11-10-22 Sanlam made an offer to buy between 36,9% and 43,9% of Afrocentric for R6 per share. This caused the share price to rise sharply. In its results for the year to 30th June 2023 the company reported revenue up 2,2% and headline earnings per share (HEPS) down 31,4%. Technically, the share has been volatile and falling since the Sanlam offer. We expect that to continue.
JSE:ACT
by PDSnetSA
Our opinion on the current state of ACTAfrocentric (ACT) is a black-owned investment holding company which focuses on health administration and insurance. Sanlam recently acquired 28,7% of the company which will help with its financing and marketing. The group owns 100% of Pharmacy Direct (a courier company), 100% of Curasana (a pharmaceutical wholesaler) and has recently acquired the other 74% of Activo Health (which distributes generic medicines and nutraceuticals) to give it 100%. This acquisition was executed for R588m in cash and shares, which is a multiple of 9,3 times Activo's most recent after-tax profit (R63m). Its largest asset is its controlling stake in Medscheme which administers medical schemes covering 3,2m lives in South Africa, Namibia, Kenya, Botswana, Zimbabwe and Swaziland. Afrocentric is intent on accessing the Medscheme client base to sell its other products. In its results for the six months to 1st December 2022 the company reported revenue up 1,2% and headline earnings per share (HEPS) down 19%. The company said, "...the muted growth has been affected by the marginal membership growth, membership buy down of options, slowdown of the pharmaceutical sales, reduced adherence to chronic medicine by patients, reduction in SEP and reduction in sales of preventative medicine". On 11-10-22 Sanlam made an offer to buy between 36,9% and 43,9% of Afrocentric for R6 per share. This caused the share price to rise sharply. In a trading statement for the year to 30th June 2023 the company estimated that HEPS would fall by between 30% and 40%. The company said, "The decline in earnings for the current reporting period is mainly attributed to once off costs associated with various corporate activities and business unit restructuring". Technically, the share has been volatile since the Sanlam offer. We expect that to continue.
JSE:ACT
by PDSnetSA
Afrocentric breakaway and up and away to R5.93W Formation formed on Afrocentric. The price broke above the neckline showing there's more demand. Before that there was a big GAP. This gap is known as a breakway away. It broke out of the down/sideways trend and into an uptrend. Hence there is a bullish tone and more buying along the way. 7>21>200 RSI>50 Bullish Target R5.93 ABOUT AfroCentric Investment Corporation Limited (Founded in 2008) is a South African healthcare company listed on the Johannesburg Stock Exchange. Their goal is to provide affordable, accessible healthcare to all South Africans. They operate through three main subsidiaries: Medscheme, Pharmacy Direct, and AfroCentric Health. Medscheme is one of South Africa's leading medical scheme administrators, managing over 3.5 million lives across multiple medical schemes. Pharmacy Direct is a retail pharmacy network that operates in several provinces across South Africa, offering a range of healthcare products and services. AfroCentric Health provides a range of healthcare services, including primary healthcare, occupational health, and wellness programs, to individuals and corporations.
JSE:ACTLong
by Timonrosso