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TELEMASTERS HOLDINGS LIMITED - SF_ Audited Condensed Consolidated Financial Statements For the Year Ended 30 June '26 & Declaration of Dividend No 72

TeleMasters Holdings Limited
Full analysis

What this filing means

TeleMasters' audited FY2026 results confirm what the market was told nine days ago: EPS of 4.68 cents (up 403%) and HEPS of 4.69 cents (up 334%), both well short of the more than 700% increase guided on 26 June. The 6 October Further Trading Statement had already disclosed these exact figures, so this audited confirmation carries no fresh surprise. The dividend of 0.3 cents per share is declared from retained earnings, and the auditors issued an unmodified opinion.

TeleMasters made much more profit than last year — earnings per share went from under a cent to nearly five cents. But the company had first told investors to expect an even bigger jump, more than seven times the prior year. What arrived was about four to five times, and the company already told the market that nine days ago. So this audited confirmation is good news that is no longer new news.

Bull case

  • Audited revenue increased 8.15% to R69 809 679 for the year ended 30 June 2026.
  • Audited operating profit increased 269.33% to R4 085 825 for the year ended 30 June 2026.
  • Audited earnings per share increased 403.23% to 4.68 cents for the year ended 30 June 2026.
  • Audited headline earnings per share increased 334.26% to 4.69 cents for the year ended 30 June 2026.
  • Net asset value per share increased 5.08% to 68.44 cents as at 30 June 2026.

Bear case

  • Audited EPS of 4.68 cents and HEPS of 4.69 cents land well short of the more than 700% increase guided on 26 June 2026.
  • The guidance miss was already disclosed in the 6 October 2026 Further Trading Statement, so this audited print adds no new directional information.
View original SENS announcement

AI-generated summary by SENS-AI, based on the original JSE SENS filing.

SENS-AI conclusion

The fundamental direction is positive — revenue, operating profit, EPS and HEPS all rose sharply — but the market-impact read is Neutral because the guidance miss was already disclosed in the 6 October Further Trading Statement. The 403% and 334% figures were in the market's hands nine days before this audited print, so there is no fresh directional information here. The dividend declaration and unmodified audit opinion are supportive but confirmatory. So what: the operating business improved, but the market has already processed the shortfall against the original bar; the next test is whether the full annual report shows the improvement is sustainable.

The full annual report is where the market will test whether the second-half slowdown that caused the guidance miss is a one-off or a trend.

Evidence from the filing

  • Audited EPS of 4.68 cents and HEPS of 4.69 cents land well short of the more than 700% increase guided on 26 June 2026.

    “Shareholders are advised that there is a reasonable degree of certainty that, for the year ended 30 June 2026, both earnings per share ("EPS") and headline earnings per share ("HEPS") will increase by more than 700% compared to the EPS of 0.93 cents per share and HEPS of 1.08 cents per shares in the prior comparative period.”

  • The guidance miss was already disclosed in the 6 October 2026 Further Trading Statement, so this audited print adds no new directional information.

    “Further to the initial trading statement published on 26 June 2026, shareholders are advised that, for the year ended 30 June 2026, earnings per share (“EPS”) increased by 403% from 0.93 cents per share to 4.68 cents per share, and headline earnings per share (“HEPS”) increased by 334% from 1.08 cents per share to 4.69 cents per share compared to the prior comparative period.”

  • Audited revenue increased 8.15% to R69 809 679 for the year ended 30 June 2026.

    “ Revenue 69 809 679 64 546 123 8.15%”

  • Audited operating profit increased 269.33% to R4 085 825 for the year ended 30 June 2026.

    “ Operating profit 4 085 825 1 106 292 269.33%”

  • Audited earnings per share increased 403.23% to 4.68 cents for the year ended 30 June 2026.

    “ Earnings per share (cents) 4.68 0.93 403.23%”

  • Audited headline earnings per share increased 334.26% to 4.69 cents for the year ended 30 June 2026.

    “ Headline earnings per share (cents) 4.69 1.08 334.26%”

  • Net asset value per share increased 5.08% to 68.44 cents as at 30 June 2026.

    “ Net asset value per share (cents) 68.44 65.13 5.08%”
Category
Results
Event posture
No Edge
Published
Oct 15, 2026

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