Labat Africa announced on SENS on 4 November 2025 that it had submitted its annual financial statements to the JSE, thus narrowly avoiding suspension for late reporting.
Download Labat’s latest Inclusive AFS here:
For shareholders, the long wait for good news may have been worth it. Although no dividends will be declared, Labat’s investment in the fintech space appears to be paying off with the company reporting a profit that was up almost 600% compared to the year ending May 2024.
Revenue for F2025 was R199 400 million (2024: R48,536 m), yielding a total comprehensive profit of R131,492 million (2024: loss of R26,404 m). This difference of R157,896 million amounts to a 598% improvement in performance.
Cannabis industry watchers will note that Labat’s change of fortune coincides with it ditching its cannabis interests. Under new management, Labat has invested in two main tech companies that operate in the fintech and data support sector which are behind its return to profit.
Two weeks ago it announced that it was no longer a cannabis company and had sold all its interests in the sector to P64 Investments for R23 million. Although there are questions about the ‘arms-length’ nature of the deal, Labat has effectively got rid of an enormous headache that was courting legal calamity.
Ironically, many of Labat’s current shareholders bought Labat five years ago on the strength that it was an ambitious cannabis company aiming to dominate the local market. The fact that their rewards will come from elsewhere in the future is a sad reflection on the cannabis industry in general, and particularly the lack of regulatory clarity that Labat says has cost it millions.
For Labat’s estimated 17 000 shareholders the results per share are:
Profit/Loss per share/ cents
2025: 10.59
2024: (3.97)
Diff: 14.56
%. 367%
Headline profit/loss per share/ cents
2025: 5.40
2024: (3.95)
Diff: 9.35
%. 237%
Net asset value per share/ cents
2025: 22.23
2024: (2.99)
Diff: 25.22
%. 843%
Labat has also announced that its AGM will be held on Tuesday 2 December 2025, physically at the Randpark Country Club in Gauteng as well as virtually.
IMPORTANT DATES AND TIMES
Notice of AGM publication on SENS Tuesday, 4 November
Last day to trade to be eligible to participate in, and vote at the AGM Tuesday, 18 November
Record date (for voting purposes at the AGM) Friday, 21 November
Last Date for Proxy Forms by 10h00 Friday, 28 November
AGM held at 09h00 Tuesday, 2 December
Results of the AGM released on SENS Tuesday, 2 December
The results of the AGM will be released on SENS following the conclusion of the meeting.
Shareholders wishing to participate electronically in the AGM are required to register with the Company’s transfer secretaries by no later than 10:00am on Friday, 28 November 2025. Details for electronic participation are contained in the notice of AGM.
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