Canaf Investments Inc. (TSXV: CAF), a Canada-registered corporation, has announced the release of its Audited Financial Statements and Management Discussion and Analysis for the year ended October 31, 2023. The company’s financial results showcase a remarkable year of growth and profitability.
Canaf Investments reported revenue of CAN$32,326,207 for the year, marking a significant 46% improvement compared to the previous year. This impressive performance translated into a net income after tax of CAN$2,936,682, a substantial increase from CAN$1,390,239 in 2022. Earnings per share for the year amounted to CAN$0.062.
The company’s shareholder equity as of October 31, 2023, stood at CAN$9.1 million, reflecting a notable increase from CAN$6.9 million in 2022. This equates to a book value per share of CAN$0.192.
Christopher Way, CEO of Canaf Investments, expressed his satisfaction with the annual results, stating that they represent the most profitable year in the corporation’s history. He emphasized the company’s focus on accumulating and reinvesting profits back into South Africa, with a particular emphasis on exploring new sectors and expanding their property portfolio.
Way acknowledged the potential market volatility in the Southern Coal supply markets in 2024. However, he expressed confidence in Canaf’s robust balance sheet and manageable overheads, which position the company well to navigate various scenarios and volatility in pricing and demand. Way emphasized the company’s long-term goal of building a diverse, responsible, and sustainable corporation that can withstand the test of time.
For more detailed information and discussion on Canaf Investments’ financial results, interested parties can access the Financial Statements and Management Discussion and Analysis on the company’s website, www.canafinvestments.com, or through www.sedar.com.
Canaf Investments Inc. is a publicly listed company on the TSX Venture Exchange. The company’s registered office is located in Vancouver, Canada, with additional offices in the United Kingdom and South Africa. Canaf owns Quantum Screening and Crushing (Pty) Ltd., a South African company that holds a 70% stake in Southern Coal (Pty) Ltd. Southern Coal specializes in producing high carbon, de-volatised (calcined) anthracite. Canaf Investments also owns Canaf Investments (Pty) Ltd., a South African company that wholly owns Canaf Estate Holdings (Pty) Ltd., a real estate investment company focused on suburban property in Johannesburg.
Canaf Investments’ forward-looking statements highlight the company’s positive outlook for the future. While the company believes its expectations are reasonable, it acknowledges the inherent risks and uncertainties that could affect actual results. Canaf Investments remains committed to providing updates and adhering to its disclosure obligations.
Overall, Canaf Investments Inc.’s financial results for 2023 demonstrate remarkable growth and profitability, positioning the company for continued success in the future.
