[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Smalltalkdaily Research [@smalltalkdaily](/creator/twitter/smalltalkdaily) on x 21.8K followers Created: 2024-06-27 12:57:18 UTC FY2024 results out earlier from $JSEART Argent Industrial. Stock +3.05% to 2195 cents Company continues its unbroken earnings growth run since 2019, but changes in UK tax rate sliced a chunk of the XX% profit growth off the table for the tax man's kitty My anticipated forecast was way too toppy - tax man's take, sliced hard into my expectations. Year to date #ART share price +42% & over X year +33.5% so my buy recommendation remains and was valid Revenue R2,544m +3.5% Operating profit R342.7m +12.6% Profit before tax (PBT) R342.6m +17.0% XXXX% of PBT now derived offshore up from XX% in FY2023 Manufacturing revenue R2,027m (+12.1%) Manufacturing profit R302.6m (+18.9%) Steel trading revenue R517.2m (-20.6%) Steel trading profits R26.3m (-3.2%) Best & worst revenue growth market Asia & Middle East (+55.7%) to R184.7m UK (+18.4%) to R668.8m Rest of Africa (+16%) to R235.8m. South Africa (-8.0%) to R1,307.5m Finance income R12.8m +348% (cash, mostly offshore sits at R450,7m +76.5% or 828cps or XX% of market capitalisation) Tax R90.1m +59.5% (UK tax moved from XX% to 25%) HEPS 438.5cps +6.6% Final divided XX cents for XXX cents (+21%) paid for the year Net Asset Value 3115cps +16.1% Company bought back 1,625m shares in the year & states it will continues to buy back shares Increasing offshore revenue + profit XXXX% of revenue (R1,236.8m) up from XXXX% in FY2023 and XXXX% of PBT from offshore (R217.4m) up from XXXX% in FY2023 Offshore profits rose +27.8% year-on-year until UK Chancellor Jeremy Hunt took his increased slice. #ART tax rate rose from XXXXX% to XXXXX% thus the XX% profit growth achieved was cut to 6.8%...damn tax man South African profit rose a modest +1.9% to R125.1m on the challenging economy On a PE of XXX% and a dividend yield of XXX% I'm still happy with my recommendation & holding of #ART in my top stocks portfolio  XXXXX engagements  **Related Topics** [#art](/topic/#art) [kitty](/topic/kitty) [tax bracket](/topic/tax-bracket) [$jseart](/topic/$jseart) [Post Link](https://x.com/smalltalkdaily/status/1806310838724169812)
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Smalltalkdaily Research @smalltalkdaily on x 21.8K followers
Created: 2024-06-27 12:57:18 UTC
FY2024 results out earlier from $JSEART Argent Industrial. Stock +3.05% to 2195 cents
Company continues its unbroken earnings growth run since 2019, but changes in UK tax rate sliced a chunk of the XX% profit growth off the table for the tax man's kitty
My anticipated forecast was way too toppy - tax man's take, sliced hard into my expectations. Year to date #ART share price +42% & over X year +33.5% so my buy recommendation remains and was valid
Revenue R2,544m +3.5% Operating profit R342.7m +12.6% Profit before tax (PBT) R342.6m +17.0% XXXX% of PBT now derived offshore up from XX% in FY2023
Manufacturing revenue R2,027m (+12.1%) Manufacturing profit R302.6m (+18.9%)
Steel trading revenue R517.2m (-20.6%) Steel trading profits R26.3m (-3.2%)
Best & worst revenue growth market Asia & Middle East (+55.7%) to R184.7m UK (+18.4%) to R668.8m Rest of Africa (+16%) to R235.8m. South Africa (-8.0%) to R1,307.5m
Finance income R12.8m +348% (cash, mostly offshore sits at R450,7m +76.5% or 828cps or XX% of market capitalisation) Tax R90.1m +59.5% (UK tax moved from XX% to 25%)
HEPS 438.5cps +6.6% Final divided XX cents for XXX cents (+21%) paid for the year Net Asset Value 3115cps +16.1% Company bought back 1,625m shares in the year & states it will continues to buy back shares
Increasing offshore revenue + profit XXXX% of revenue (R1,236.8m) up from XXXX% in FY2023 and XXXX% of PBT from offshore (R217.4m) up from XXXX% in FY2023
Offshore profits rose +27.8% year-on-year until UK Chancellor Jeremy Hunt took his increased slice. #ART tax rate rose from XXXXX% to XXXXX% thus the XX% profit growth achieved was cut to 6.8%...damn tax man
South African profit rose a modest +1.9% to R125.1m on the challenging economy
On a PE of XXX% and a dividend yield of XXX% I'm still happy with my recommendation & holding of #ART in my top stocks portfolio
XXXXX engagements
Related Topics #art kitty tax bracket $jseart