- Terrence Moolman’s stake in Caxton Publishers increased $5.6 million due to a recent stock price surge.
- The South African publisher’s share price rose over five percent, pushing its market capitalization above $200 million.
- Despite Moolman’s gain, Caxton’s year-to-date performance is negative, with declining revenue and profits.
South African media tycoon Terrence Moolman has added millions to his substantial fortune, reinforcing his status as one of Africa’s foremost media businessmen. This is linked to the recent rise in the market value of his stake in Caxton & CTP Publishers Limited.
According to data tracked by Billionaire.Africa, Moolman’s stake in Caxton & CTP Publishers Limited has appreciated by R102.44 million ($5.61 million) over the past 47 days, following a 5.6-percent increase in the publisher’s shares on the Johannesburg Stock Exchange (JSE).
Caxton’s market cap exceeds $200 million
Founded in 1980 by Moolman and Noel Coburn, Caxton has grown to become a leading South African publisher, printer, and packaging manufacturer. The company manages 88 newspapers and 15 magazines and offers various printing and packaging solutions.
Since April 3, Caxton’s share price on the JSE has risen from R9.8 ($0.53) to R10.35 ($0.54), resulting in a market cap exceeding $200 million. This growth has generated substantial returns for Moolman and other shareholders.
Moolman’s stake in Caxton rises to $105.6 million
As Caxton’s CEO and co-founder, Moolman holds a 51.84-percent stake in the company, equivalent to 186,262,725 shares. The recent 5.6-percent increase in Caxton shares has boosted Moolman’s stake by R102.44 million ($5.61 million), raising its value from R1.83 billion ($99.99 million) to R1.93 billion ($105.6 million).
Moolman remains a pivotal figure in the Southern African media industry, significantly influencing the country’s publishing and print sectors. His leadership continues to shape Caxton’s direction and maintain its position as a dominant force in the industry.
Your Money and Your Life: Caxton’s year-to-date performance disappoints
However, not all news is positive for Caxton. The company’s shares have declined by more than six percent since the start of the year, placing it 290th on the JSE in terms of year-to-date performance. An initial investment of $100,000 at the start of the year is now valued at $93,460, a loss of $6,540.
Caxton’s financials for the first half of the 2024 fiscal year also reflect challenges, with a 3.3-percent drop in revenue to R3.7 billion ($202.6 million) and a 30.8-percent decline in profit, from R404.82 million ($22.12 million) to R280.18 million ($15.34 million). Investors seeking better returns might need to consider other options on the JSE.
