Board Change • 14h
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Non Executive Director Victoria Tebele was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • 14h
Final dividend of P0.10 announced Shareholders will receive a dividend of P0.10. Ex-date: 29th May 2026 Payment date: 9th June 2026 Dividend yield will be 9.7%, which is higher than the industry average of 8.1%. Sustainability & Growth Dividend is not covered by earnings (226% earnings payout ratio). However, it is covered by cash flows (78% cash payout ratio). The dividend has increased by an average of 1.1% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 151% to bring the payout ratio under control. However, EPS has declined by 9.0% over the last 5 years so the company would need to reverse this trend. Announcement • May 02
Turnstar Holdings Limited announces Semi-Annual dividend, payable on June 09, 2026 Turnstar Holdings Limited announced Semi-Annual dividend of BWP 0.0768 per share payable on June 09, 2026, ex-date on May 29, 2026 and record date on June 02, 2026. Announcement • Apr 16
Turnstar Holdings Limited to Report Fiscal Year 2026 Results on Apr 30, 2026 Turnstar Holdings Limited announced that they will report fiscal year 2026 results at 10:25 AM, South Africa Standard Time on Apr 30, 2026 Announcement • Nov 06
Turnstar Holdings Limited announces Semi-Annual dividend, payable on December 10, 2025 Turnstar Holdings Limited announced Semi-Annual dividend of BWP 0.0769 per share payable on December 10, 2025, ex-date on November 26, 2025 and record date on November 28, 2025. Announcement • Apr 30
Turnstar Holdings Limited announces Semi-Annual dividend, payable on June 11, 2025 Turnstar Holdings Limited announced Semi-Annual dividend of BWP 0.0642 per share payable on June 11, 2025, ex-date on May 30, 2025 and record date on June 03, 2025. Announcement • Mar 01
Turnstar Holdings Limited Announces Changes to the Executive Directors The Board of Directors of Turnstar Holdings Limited announced the retirement of Mr. Shiran Puvimanasinghe as the Chief Operating Officer (COO) and executive director of the company. Mr. Puvimanasinghe has served the company for the past 12 years. Mr. Puvimanasinghe is resigning on the 28 February 2025. The Board of Directors also announced the appointment of Mr. Comfort Rankgomo as an executive director of the company effective immediately. Mr. Rankgomo, who is currently the Chief Financial Officer, has been with Turnstar Holdings Limited for past 14 years. Mr. Rankgomo's appointment is effective 28 February 2025. Mr. Rankgomo joined Turnstar in 2011 as Finance Manager, he was appointed Chief Financial Officer in 2024. Prior to that he worked for Letshego Holding Limited and PricewaterhouseCoopers. He graduated from the University of Botswana with a Bachelor of Accounting in 2001 and attained ACCA in 2004. He obtained Master of Business Administration (MBA) from University of Derby in 2009. Mr. Rankgomo is a Fellow Member of both ACCA and the Botswana Institute of Chartered Accountants. Declared Dividend • Oct 30
First half dividend of P0.10 announced Dividend of P0.10 is the same as last year. Ex-date: 27th November 2024 Payment date: 10th December 2024 Dividend yield will be 9.5%, which is higher than the industry average of 8.1%. Sustainability & Growth Dividend is covered by earnings (69% earnings payout ratio) but not adequately covered by cash flows (92% cash payout ratio). The dividend has increased by an average of 1.6% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 6.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 29
First half 2025 earnings released: EPS: P0.12 (vs P0.084 in 1H 2024) First half 2025 results: EPS: P0.12 (up from P0.084 in 1H 2024). Revenue: P173.0m (up 12% from 1H 2024). Net income: P66.1m (up 38% from 1H 2024). Profit margin: 38% (up from 31% in 1H 2024). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 23
Upcoming dividend of P0.10 per share Eligible shareholders must have bought the stock before 30 May 2024. Payment date: 12 June 2024. Payout ratio and cash payout ratio are on the higher end at 78% and 82% respectively. Trailing yield: 10%. Within top quartile of Batswana dividend payers (8.4%). Higher than average of industry peers (6.7%). Reported Earnings • May 01
Full year 2024 earnings released: EPS: P0.26 (vs P0.19 in FY 2023) Full year 2024 results: EPS: P0.26 (up from P0.19 in FY 2023). Revenue: P331.7m (up 13% from FY 2023). Net income: P147.2m (up 36% from FY 2023). Profit margin: 44% (up from 37% in FY 2023). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Apr 12
Turnstar Holdings Limited to Report Fiscal Year 2024 Results on Apr 30, 2024 Turnstar Holdings Limited announced that they will report fiscal year 2024 results on Apr 30, 2024 New Risk • Mar 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Batswana stocks, typically moving 2.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (2.0% average weekly change). Earnings have declined by 2.0% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (124% payout ratio). Market cap is less than US$100m (P1.12b market cap, or US$82.1m). Upcoming Dividend • Nov 22
Upcoming dividend of P0.10 per share at 9.5% yield Eligible shareholders must have bought the stock before 29 November 2023. Payment date: 12 December 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 9.5%. Within top quartile of Batswana dividend payers (8.6%). Higher than average of industry peers (7.8%). New Risk • Nov 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Batswana stocks, typically moving 1.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.0% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (124% payout ratio). Share price has been volatile over the past 3 months (1.5% average weekly change). Market cap is less than US$100m (P1.20b market cap, or US$89.3m). New Risk • Nov 05
New major risk - Revenue and earnings growth Earnings have declined by 1.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.2% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (P1.14b market cap, or US$84.3m). Announcement • Oct 06
Turnstar Holdings Limited Provides Financial Guidance for the Half-Year Period Ended 31 July 2023 Turnstar Holdings Limited provided financial guidance for the half-year period ended 31 July 2023. The Group's profit before taxation, for the half-year period ended 31 July 2023, is expected to be BWP 14.3 million (26.5%) higher compared to the previous half-year period ended 31 July 2022 (BWP 68.3 million for the half-year period ended 31 July 2023 compared to BWP 54 million for the half-year period ended 31 July 2022). New Risk • Jul 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Batswana stocks, typically moving 1.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (95% payout ratio). Share price has been volatile over the past 3 months (1.6% average weekly change). Market cap is less than US$100m (P1.12b market cap, or US$85.6m). Reported Earnings • Jul 09
Full year 2023 earnings released: EPS: P0.19 (vs P0.18 in FY 2022) Full year 2023 results: EPS: P0.19 (up from P0.18 in FY 2022). Revenue: P292.4m (up 9.3% from FY 2022). Net income: P108.0m (up 7.0% from FY 2022). Profit margin: 37% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Jul 06
Turnstar Holdings Limited, Annual General Meeting, Jul 27, 2023 Turnstar Holdings Limited, Annual General Meeting, Jul 27, 2023, at 12:00 South Africa Standard Time. Location: The Centre Management Offices, 1st Floor, Game City Retail Mall Gaborone Botswana Agenda: To receive, consider and adopt the Audited Financial Statements for the year ended 31 January 2023 together with the Auditors report to the Board; to approve the distribution of dividend as recommended by the Board of Directors for the year ended 31 January 2023; to confirm the appointment of Henrietta Sethebe Manake as a Director of the Company; to re-elect Butler Phirie and Victoria Tebele as Directors who retire by rotation in terms Article 63 of the Articles of Association of the company and being eligible, offer themselves for re-election; to ratify the remuneration paid to the Non-Executive Directors for the year ended 31 January 2023; to ratify the remuneration paid to the auditors, Ernst & Young, for the year ended 31 January 2023; to appoint Ernst & Young as Auditors for the year ending 31 January 2024 and authorise the Directors to fix their remuneration; and to consider other matters. Upcoming Dividend • May 26
Upcoming dividend of P0.09 per share at 9.9% yield Eligible shareholders must have bought the stock before 02 June 2023. Payment date: 15 June 2023. Payout ratio is on the higher end at 93%, however this is supported by cash flows. Trailing yield: 9.9%. Within top quartile of Batswana dividend payers (9.4%). Higher than average of industry peers (8.1%). Reported Earnings • May 01
Full year 2023 earnings released Full year 2023 results: Revenue: P294.4m (up 10% from FY 2022). Net income: P108.0m (up 7.0% from FY 2022). Profit margin: 37% (down from 38% in FY 2022). The decrease in margin was driven by higher expenses. Upcoming Dividend • Nov 23
Upcoming dividend of P0.09 per share Eligible shareholders must have bought the stock before 30 November 2022. Payment date: 13 December 2022. Payout ratio is on the higher end at 93%, however this is supported by cash flows. Trailing yield: 10%. Within top quartile of Batswana dividend payers (10.0%). Higher than average of industry peers (7.3%). Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 1 independent director. 7 non-independent directors. Independent Non Executive Director Victoria Tebele was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 1 independent director. 7 non-independent directors. Independent Non Executive Director Victoria Tebele was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Oct 28
First half 2023 earnings released First half 2023 results: Revenue: P144.1m (up 12% from 1H 2022). Net income: P68.6m (up 17% from 1H 2022). Profit margin: 48% (up from 46% in 1H 2022). The increase in margin was driven by higher revenue. Announcement • Sep 01
Turnstar Holdings Limited Appoints Mrs. Sethebe Manake to the Board of Directors Turnstar Holdings Limited Turnstar announced the appointment of Mrs. Sethebe Manake, to the Board of Directors, with effect from the 1st of September 2022. Mrs. Manake holds a BSc in Property Studies from the University of Cape Town and an MSc in Strategic Management from the University of Derby. She brings with her a wealth of experience, having served as a property manager at Khumo PAM a subsidiary of Bifm, and as an asset manager at Stanlib, where she was seconded to Letlole la Rona as its CEO. She is currently operating her own real estate research and consulting firm delivering automated property valuations and customized dynamic market insights for real estate investors, financiers and developers. Announcement • Jul 30
Turnstar Holdings Limited Approves Board Changes Turnstar Holdings Limited at the annual general meeting held on July 28, 2022 approved the appointment of Amaresh Chetty as Director of the Company. Mr. Butler Phirie has been appointed Chairman of the Board, having served as a Director since July 2021. Mr. Chetty is the Chief Investment Officer at Ngwenya Capital and has in excess of 15 years' investment and commercial experience across various sectors, including but not limited to real estate, healthcare, and financial services. He has served as a Director at Ascendis Health Limited (JSE Main Board), Sunstone Capital Limited, Pepper Club Hotel Investments, and Rencell. The Board thanks Mr. Thobo Kerekang, who offered himself for election as a Director. Unfortunately, insufficient votes were noted for this resolution to pass. Mr. Patrick K. Balopi and Mr. Pierre J. Bezuidenhout have resigned as Directors, having each served the requisite terms on the Board. Reported Earnings • Jul 13
Full year 2022 earnings released: EPS: P0.18 (vs P0.14 in FY 2021) Full year 2022 results: EPS: P0.18 (up from P0.14 in FY 2021). Revenue: P267.5m (up 8.5% from FY 2021). Net income: P100.9m (up 24% from FY 2021). Profit margin: 38% (up from 33% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 14% per year. Board Change • Jul 09
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non Executive Director Victoria Tebele was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jul 08
Turnstar Holdings Limited Announces Retirement of Directors Turnstar Holdings Limited announced retirement of Patrick K Balopi and Pierre J Bezuidenhout as directors which will be considered at the Annual General Meeting to be held on July 28, 2022. Mr. Patrick Balopi having earlier advised that he would no longer be standing for Chairmanship of the Company has decided after careful consideration not to put himself up for re-election at the next Annual General Meeting. Mr. Balopi was first Appointed Director of Turnstar in July 2001. He also served in several of its Board Committees until he resigned in June 2006. He was later reappointed as a Director and served as Chairman of the Board of Turnstar in July 2016 up until his resignation from the Board of Turnstar on the 5th of July 2022. Mr. Balopi was a Member of Parliament for over 20 years, and held various Cabinet and Ministerial positions between 1984 to 1998. He was elected Speaker of Parliament of the Republic of Botswana in 2004 to 2009, and served simultaneously as Chairperson of the SADC Parliamentary Forum. He is recipient of the Presidential Order of Honour (PH) and the Melvin Jones Fellowship (MJF) of Lions Club International. He was appointed by His Excellency Lt. General Ian Khama Seretse Khama, the President of The Republic of Botswana as the country's eminent representative to Queen Elizabeth II Diamond Jubilee Board of Trustees, headed by former British Prime Minister, Right Honourable John Major. Announcement • Jun 29
Turnstar Holdings Limited Appoints Solomon Seoketsi Mantswe, to the Board of Directors, with Effect from July 1, 2022 Turnstar Holdings Ltd. announced the appointment of Mr. Solomon Seoketsi Mantswe, to the Board of Directors, with effect from 1st July 2022. He brings over 30 years' experience in the public service. He was appointed Deputy Commissioner of the Botswana Police Service (BPS) in 2021. Some of his key responsibilities include strategic leadership and management of the BPS, the development and implementation of organisational strategies, directing the Human Resource and Administration of the BPS, Policy direction and stakeholder relations. He gained extensive experience in corporate governance through his service as the Chairman of the Botswana Public Officers Pension Fund (BPOPF) a position he has held since 2017, and also from the various subcommittees of the same board. Announcement • Jun 22
Turnstar Holdings Limited, Annual General Meeting, Jul 28, 2022 Turnstar Holdings Limited, Annual General Meeting, Jul 28, 2022. Agenda: To discuss and share material updates as regards to leadership of the business; and to discuss other business matters. Upcoming Dividend • May 23
Upcoming dividend of P0.09 per share Eligible shareholders must have bought the stock before 30 May 2022. Payment date: 09 June 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 9.7%. Within top quartile of Batswana dividend payers (8.8%). Higher than average of industry peers (7.1%). Reported Earnings • May 01
Full year 2022 earnings released: EPS: P0.18 (vs P0.14 in FY 2021) Full year 2022 results: EPS: P0.18 (up from P0.14 in FY 2021). Revenue: P268.9m (up 9.1% from FY 2021). Net income: P100.9m (up 24% from FY 2021). Profit margin: 38% (up from 33% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 13% per year. Upcoming Dividend • Nov 19
Upcoming dividend of P0.09 per share Eligible shareholders must have bought the stock before 26 November 2021. Payment date: 10 December 2021. Trailing yield: 9.0%. Within top quartile of Batswana dividend payers (8.3%). Higher than average of industry peers (7.1%). Reported Earnings • Jul 09
Full year 2021 earnings released: EPS P0.14 (vs P0.20 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: P246.4m (down 9.1% from FY 2020). Net income: P81.3m (down 30% from FY 2020). Profit margin: 33% (down from 43% in FY 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 19
Upcoming dividend of P0.09 per share Eligible shareholders must have bought the stock before 26 May 2021. Payment date: 09 June 2021. Trailing yield: 9.5%. Within top quartile of Batswana dividend payers (8.1%). Higher than average of industry peers (7.2%). Is New 90 Day High Low • Feb 25
New 90-day low: P2.10 The company is down 16% from its price of P2.50 on 27 November 2020. The Batswana market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 2.0% over the same period. Announcement • Feb 09
Turnstar Holdings Limited Announces Board Changes Turnstar Holdings Limited announces the retirement of Mrs. Peo Pillar, from the Board of Directors. Mrs. Pillar has served on the Turnstar Board since 2011, and was the Chairperson of the Audit & Risk committee, at the time of her retirement. Is New 90 Day High Low • Feb 06
New 90-day low: P2.45 The company is down 2.0% from its price of P2.50 on 06 November 2020. The Batswana market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is flat over the same period. Announcement • Feb 03
Turnstar Holdings Ltd Appoints Victoria Tlamelo Tebele, to the Board of Directors Turnstar Holdings Ltd. announced the appointment of Victoria Tlamelo Tebele, to the Board of Directors, with effect from 1st February 2021. She currently serves as a non-executive Director and the Chairperson of the audit committee, of the Bank of Botswana. Upcoming Dividend • Nov 18
Upcoming Dividend of P0.10 Per Share Will be paid on the 9th of December to those who are registered shareholders by the 25th of November. The trailing yield of 8.0% is in the top quartile of Batswana dividend payers (8.0%), and it is in line with industry peers (7.3%). Reported Earnings • Oct 15
First half earnings released Over the last 12 months the company has reported total profits of P90.0m, down 26% from the prior year. Total revenue was P271.0m over the last 12 months, largely unchanged from the prior year. Is New 90 Day High Low • Sep 30
New 90-day low: P2.49 The company is down 11% from its price of P2.80 on 02 July 2020. The Batswana market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 4.0% over the same period.