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Filter the 691 listed companies with published financial statements on this site by criteria calculated from their audited annual reports. This is our published set, not all African listed companies.

Active filters: Criterion: Operating cash flow below profit, two years running (remove) Reset

93 companies match the criterion, out of 691 companies in view.

Showing 51–93 of 93. Link to this view · Download these results (CSV)

CompanyCountryListingYears used Key figuresWhy it matches
NGX Group Nigeria NGXGROUP · NGX FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: NGN -7,597,895,000Operating cash flow less profit, FY2024: NGN -1,207,677,000Reports in NGN Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 NGN 8.71 billion against NGN 9.92 billion, FY2025 NGN 2.88 billion against NGN 10.5 billion.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = 2881387000 − 10479282000 = NGN -7,597,895,000 (exact)

Operating cash flow less profit, FY2024 = 8712725000 − 9920402000 = NGN -1,207,677,000 (exact)
NIC HoldingsInsurers Uganda NIC · USE FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: UGX -4,855,341,000Operating cash flow less profit, FY2024: UGX -3,977,431,000Reports in UGX Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 UGX −3.50 billion against UGX 477 million, FY2025 UGX −6.38 billion against UGX −1.52 billion.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = -6376425000 − -1521084000 = UGX -4,855,341,000 (exact)

Operating cash flow less profit, FY2024 = -3500227000 − 477204000 = UGX -3,977,431,000 (exact)
Novus Properties Mauritius SEM FY to 30 Jun 2025FY to 30 Jun 2024 Operating cash flow less profit, FY to 30 Jun 2025: MUR -2,872,340Operating cash flow less profit, FY to 30 Jun 2024: MUR -979,723Reports in MUR Operating cash flow was below profit for the year in FY to 30 Jun 2024 and FY to 30 Jun 2025: FY to 30 Jun 2024 MUR 10.5 million against MUR 11.5 million, FY to 30 Jun 2025 MUR 5.72 million against MUR 8.59 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY to 30 Jun 2025 = 5716114 − 8588454 = MUR -2,872,340 (exact)

Operating cash flow less profit, FY to 30 Jun 2024 = 10517581 − 11497304 = MUR -979,723 (exact)
NSE PLC Kenya NSE · NSE FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: KES -49,147,000Operating cash flow less profit, FY2024: KES -24,507,000Reports in KES Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 KES 91.8 million against KES 116 million, FY2025 KES 223 million against KES 272 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = 223151000 − 272298000 = KES -49,147,000 (exact)

Operating cash flow less profit, FY2024 = 91793000 − 116300000 = KES -24,507,000 (exact)
Oando ⚠ Going-concern warning Nigeria OANDO · NGX FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: NGN -172,477,353,000Operating cash flow less profit, FY2024: NGN -755,400,140,000Reports in NGN Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 NGN −535 billion against NGN 220 billion, FY2025 NGN 32.3 billion against NGN 205 billion.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = 32331220000 − 204808573000 = NGN -172,477,353,000 (exact)

Operating cash flow less profit, FY2024 = -535280087000 − 220120053000 = NGN -755,400,140,000 (exact)
Octodec South Africa OCT · A2X FY to 31 Aug 2024FY to 31 Aug 2023 Operating cash flow less profit, FY to 31 Aug 2024: ZAR -142,772,000Operating cash flow less profit, FY to 31 Aug 2023: ZAR -535,962,000Reports in ZAR Operating cash flow was below profit for the year in FY to 31 Aug 2023 and FY to 31 Aug 2024: FY to 31 Aug 2023 ZAR 74.5 million against ZAR 610 million, FY to 31 Aug 2024 ZAR 73.2 million against ZAR 216 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY to 31 Aug 2024 = 73207000 − 215979000 = ZAR -142,772,000 (exact)

Operating cash flow less profit, FY to 31 Aug 2023 = 74501000 − 610463000 = ZAR -535,962,000 (exact)
Olympia Capital Holdings Kenya OCH · NSE FY to 28 Feb 2024FY to 28 Feb 2023 Operating cash flow less profit, FY to 28 Feb 2024: KES -37,702,000Operating cash flow less profit, FY to 28 Feb 2023: KES -24,124,000Reports in KES Operating cash flow was below profit for the year in FY to 28 Feb 2023 and FY to 28 Feb 2024: FY to 28 Feb 2023 KES 11.2 million against KES 35.3 million, FY to 28 Feb 2024 KES −2.49 million against KES 35.2 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY to 28 Feb 2024 = -2488000 − 35214000 = KES -37,702,000 (exact)

Operating cash flow less profit, FY to 28 Feb 2023 = 11190000 − 35314000 = KES -24,124,000 (exact)
Placements de Tunisie Tunisia PLTU · BVMT FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: TND -5,259,834Operating cash flow less profit, FY2024: TND -3,108,788Reports in TND Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 TND 2.47 thousand against TND 3.11 million, FY2025 TND 12.0 thousand against TND 5.27 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = 11977 − 5271811 = TND -5,259,834 (exact)

Operating cash flow less profit, FY2024 = 2470 − 3111258 = TND -3,108,788 (exact)
POLICY Mauritius SEM FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: MUR -79,686,000Operating cash flow less profit, FY2024: MUR -18,649,000Reports in MUR Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 MUR 14.2 million against MUR 32.9 million, FY2025 MUR 18.4 million against MUR 98.1 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = 18418000 − 98104000 = MUR -79,686,000 (exact)

Operating cash flow less profit, FY2024 = 14239000 − 32888000 = MUR -18,649,000 (exact)
Premier Paints ⚠ Going-concern warning Nigeria PREMPAINTS · NGX FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: NGN -1,013,000Operating cash flow less profit, FY2024: NGN -332,000Reports in NGN Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 NGN −1.04 million against NGN −707 thousand, FY2025 NGN 980 thousand against NGN 1.99 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = 980000 − 1993000 = NGN -1,013,000 (exact)

Operating cash flow less profit, FY2024 = -1039000 − -707000 = NGN -332,000 (exact)
Prestige AssuranceInsurers Nigeria PRESTIGE · NGX FY2024 ended 31 Dec 2024FY2023 ended 31 Dec 2023 Operating cash flow less profit, FY2024: NGN -1,843,569,000Operating cash flow less profit, FY2023: NGN -462,122,000Reports in NGN Operating cash flow was below profit for the year in FY2023 and FY2024: FY2023 NGN 848 million against NGN 1.31 billion, FY2024 NGN 1.39 billion against NGN 3.24 billion.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2024 = 1392800000 − 3236369000 = NGN -1,843,569,000 (exact)

Operating cash flow less profit, FY2023 = 848329000 − 1310451000 = NGN -462,122,000 (exact)
Prosus Netherlands PRXn · A2X FY to 31 Mar 2026FY to 31 Mar 2025 Operating cash flow less profit, FY to 31 Mar 2026: USD -10,041,000,000Operating cash flow less profit, FY to 31 Mar 2025: USD -10,446,000,000Reports in USD Operating cash flow was below profit for the year in FY to 31 Mar 2025 and FY to 31 Mar 2026: FY to 31 Mar 2025 USD 1.92 billion against USD 12.4 billion, FY to 31 Mar 2026 USD 1.61 billion against USD 11.7 billion.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY to 31 Mar 2026 = 1609000000 − 11650000000 = USD -10,041,000,000 (exact)

Operating cash flow less profit, FY to 31 Mar 2025 = 1920000000 − 12366000000 = USD -10,446,000,000 (exact)
R.T. Briscoe ⚠ Going-concern warning Nigeria RTBRISCOE · NGX FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: NGN -6,417,745,000Operating cash flow less profit, FY2024: NGN -1,197,962,000Reports in NGN Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 NGN −389 million against NGN 809 million, FY2025 NGN −3.62 billion against NGN 2.80 billion.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = -3615323000 − 2802422000 = NGN -6,417,745,000 (exact)

Operating cash flow less profit, FY2024 = -388714000 − 809248000 = NGN -1,197,962,000 (exact)
Regency Alliance Insurance Nigeria REGALINS · NGX FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: NGN -4,359,230,000Operating cash flow less profit, FY2024: NGN -3,563,217,000Reports in NGN Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 NGN −1.30 billion against NGN 2.27 billion, FY2025 NGN −3.72 billion against NGN 637 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = -3722125000 − 637105000 = NGN -4,359,230,000 (exact)

Operating cash flow less profit, FY2024 = -1296639000 − 2266578000 = NGN -3,563,217,000 (exact)
Resilient REIT South Africa RES · A2X FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: ZAR -4,843,403,000Operating cash flow less profit, FY2024: ZAR -2,905,900,000Reports in ZAR Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 ZAR −266 million against ZAR 2.64 billion, FY2025 ZAR −98.2 million against ZAR 4.75 billion.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = -98229000 − 4745174000 = ZAR -4,843,403,000 (exact)

Operating cash flow less profit, FY2024 = -265993000 − 2639907000 = ZAR -2,905,900,000 (exact)
Reunert South Africa RLO · A2X FY to 30 Sep 2024FY to 30 Sep 2023 Operating cash flow less profit, FY to 30 Sep 2024: ZAR -267,000,000Operating cash flow less profit, FY to 30 Sep 2023: ZAR -91,000,000Reports in ZAR Operating cash flow was below profit for the year in FY to 30 Sep 2023 and FY to 30 Sep 2024: FY to 30 Sep 2023 ZAR 868 million against ZAR 959 million, FY to 30 Sep 2024 ZAR 771 million against ZAR 1.04 billion.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY to 30 Sep 2024 = 771000000 − 1038000000 = ZAR -267,000,000 (exact)

Operating cash flow less profit, FY to 30 Sep 2023 = 868000000 − 959000000 = ZAR -91,000,000 (exact)
RH BopheloInvestment companies South Africa RHB · JSERHB · RSE FY to 28 Feb 2026FY to 28 Feb 2025 Operating cash flow less profit, FY to 28 Feb 2026: ZAR -35,075,093Operating cash flow less profit, FY to 28 Feb 2025: ZAR -41,589,428Reports in ZAR Operating cash flow was below profit for the year in FY to 28 Feb 2025 and FY to 28 Feb 2026: FY to 28 Feb 2025 ZAR 2.34 million against ZAR 43.9 million, FY to 28 Feb 2026 ZAR −16.5 million against ZAR 18.6 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY to 28 Feb 2026 = -16504960 − 18570133 = ZAR -35,075,093 (exact)

Operating cash flow less profit, FY to 28 Feb 2025 = 2338945 − 43928373 = ZAR -41,589,428 (exact)
SA Corporate South Africa SAC · A2X FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: ZAR -548,566,000Operating cash flow less profit, FY2024: ZAR -561,171,000Reports in ZAR Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 ZAR 84.7 million against ZAR 646 million, FY2025 ZAR 15.4 million against ZAR 564 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = 15446000 − 564012000 = ZAR -548,566,000 (exact)

Operating cash flow less profit, FY2024 = 84659000 − 645830000 = ZAR -561,171,000 (exact)
Sanlam KenyaInsurers Kenya SLAM · NSE FY2024 ended 31 Dec 2024FY2023 ended 31 Dec 2023 Operating cash flow less profit, FY2024: KES -3,637,476,000Operating cash flow less profit, FY2023: KES -1,085,467,000Reports in KES Operating cash flow was below profit for the year in FY2023 and FY2024: FY2023 KES −1.21 billion against KES −127 million, FY2024 KES −2.58 billion against KES 1.05 billion.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2024 = -2582589000 − 1054887000 = KES -3,637,476,000 (exact)

Operating cash flow less profit, FY2023 = -1212035000 − -126568000 = KES -1,085,467,000 (exact)
SBM Morocco SBM · BVC FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: MAD -39,530,000Operating cash flow less profit, FY2024: MAD -52,731,000Reports in MAD Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 MAD 164 million against MAD 216 million, FY2025 MAD 300 million against MAD 339 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = 299584000 − 339114000 = MAD -39,530,000 (exact)

Operating cash flow less profit, FY2024 = 163519000 − 216250000 = MAD -52,731,000 (exact)
SCOA Nigeria Nigeria SCOA · NGX FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: NGN -9,903,374,000Operating cash flow less profit, FY2024: NGN -2,086,940,000Reports in NGN Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 NGN −1.86 billion against NGN 229 million, FY2025 NGN −9.35 billion against NGN 554 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = -9349626000 − 553748000 = NGN -9,903,374,000 (exact)

Operating cash flow less profit, FY2024 = -1858128000 − 228812000 = NGN -2,086,940,000 (exact)
Shaftesbury Capital United Kingdom SHC · A2X FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: GBP -271,000,000Operating cash flow less profit, FY2024: GBP -200,400,000Reports in GBP Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 GBP 51.7 million against GBP 252 million, FY2025 GBP 116 million against GBP 387 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = 116400000 − 387400000 = GBP -271,000,000 (exact)

Operating cash flow less profit, FY2024 = 51700000 − 252100000 = GBP -200,400,000 (exact)
SIMPAR Tunisia SIMPA · BVMT FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: TND -6,573,416Operating cash flow less profit, FY2024: TND -27,939,619Reports in TND Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 TND −38.1 million against TND −10.1 million, FY2025 TND −10.8 million against TND −4.27 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = -10840997 − -4267581 = TND -6,573,416 (exact)

Operating cash flow less profit, FY2024 = -38062044 − -10122425 = TND -27,939,619 (exact)
SIT Land Holdings Mauritius SEM FY to 30 Jun 2026FY to 30 Jun 2025 Operating cash flow less profit, FY to 30 Jun 2026: MUR -3,285,000Operating cash flow less profit, FY to 30 Jun 2025: MUR -344,707,000Reports in MUR Operating cash flow was below profit for the year in FY to 30 Jun 2025 and FY to 30 Jun 2026: FY to 30 Jun 2025 MUR 10.4 million against MUR 355 million, FY to 30 Jun 2026 MUR 22.5 million against MUR 25.8 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY to 30 Jun 2026 = 22468000 − 25753000 = MUR -3,285,000 (exact)

Operating cash flow less profit, FY to 30 Jun 2025 = 10390000 − 355097000 = MUR -344,707,000 (exact)
SITS Tunisia SITS · BVMT FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: TND -333,475Operating cash flow less profit, FY2024: TND -5,660,983Reports in TND Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 TND −4.63 million against TND 1.04 million, FY2025 TND 1.06 million against TND 1.39 million.
Sources and calculation

Operating cash flow below profit, two years running

  • التدفقات النقدية المتأتية من (المخصصة لـ) الاستغلال, 31 Dec 2025: TND 1,060,358 — document 34d702bb, p. 5
  • النتيجة الصافية, 31 Dec 2025: TND 1,393,833 — document 34d702bb, p. 4
  • التدفقات النقدية المتأتية من (المخصصة لـ) الاستغلال, 31 Dec 2024: TND -4,625,871 — document 34d702bb, p. 5
  • النتيجة الصافية, 31 Dec 2024: TND 1,035,112 — document 34d702bb, p. 4

Operating cash flow less profit, FY2025 = 1060358 − 1393833 = TND -333,475 (exact)

Operating cash flow less profit, FY2024 = -4625871 − 1035112 = TND -5,660,983 (exact)
Smart Tunisie Tunisia SMART · BVMT FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: TND -9,269,629Operating cash flow less profit, FY2024: TND -3,385,773Reports in TND Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 TND 11.7 million against TND 15.0 million, FY2025 TND 12.9 million against TND 22.2 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = 12902901 − 22172530 = TND -9,269,629 (exact)

Operating cash flow less profit, FY2024 = 11655858 − 15041631 = TND -3,385,773 (exact)
Spur Corp South Africa SUR · A2X FY to 30 Jun 2026FY to 30 Jun 2025 Operating cash flow less profit, FY to 30 Jun 2026: ZAR -83,722,000Operating cash flow less profit, FY to 30 Jun 2025: ZAR -105,337,000Reports in ZAR Operating cash flow was below profit for the year in FY to 30 Jun 2025 and FY to 30 Jun 2026: FY to 30 Jun 2025 ZAR 181 million against ZAR 287 million, FY to 30 Jun 2026 ZAR 106 million against ZAR 190 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY to 30 Jun 2026 = 106457000 − 190179000 = ZAR -83,722,000 (exact)

Operating cash flow less profit, FY to 30 Jun 2025 = 181415000 − 286752000 = ZAR -105,337,000 (exact)
Tadvest Mauritius TAD · NSXSEM FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: USD -36,073,644Operating cash flow less profit, FY2024: USD -7,213,703Reports in USD Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 USD 768 thousand against USD 7.98 million, FY2025 USD 83.3 thousand against USD 36.2 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = 83312 − 36156956 = USD -36,073,644 (exact)

Operating cash flow less profit, FY2024 = 768261 − 7981964 = USD -7,213,703 (exact)
Telnet Holding Tunisia TLNET · BVMT FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: TND -3,458,368.98Operating cash flow less profit, FY2024: TND -5,734,296.684Reports in TND Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 TND 4.84 million against TND 10.6 million, FY2025 TND 5.62 million against TND 9.07 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = 5615016.675 − 9073385.655 = TND -3,458,368.98 (exact)

Operating cash flow less profit, FY2024 = 4835236.532 − 10569533.216 = TND -5,734,296.684 (exact)
Terra Mauritius SEM FY2024 ended 31 Dec 2024FY2023 ended 31 Dec 2023 Operating cash flow less profit, FY2024: MUR -140,800,000Operating cash flow less profit, FY2023: MUR -531,800,000Reports in MUR Operating cash flow was below profit for the year in FY2023 and FY2024: FY2023 MUR 980 million against MUR 1.51 billion, FY2024 MUR 1.31 billion against MUR 1.45 billion.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2024 = 1311000000 − 1451800000 = MUR -140,800,000 (exact)

Operating cash flow less profit, FY2023 = 980300000 − 1512100000 = MUR -531,800,000 (exact)
Tiger Brands South Africa TBS · A2X FY to 30 Sep 2025FY to 30 Sep 2024 Operating cash flow less profit, FY to 30 Sep 2025: ZAR -1,571,000,000Operating cash flow less profit, FY to 30 Sep 2024: ZAR -58,000,000Reports in ZAR Operating cash flow was below profit for the year in FY to 30 Sep 2024 and FY to 30 Sep 2025: FY to 30 Sep 2024 ZAR 2.95 billion against ZAR 3.01 billion, FY to 30 Sep 2025 ZAR 2.28 billion against ZAR 3.85 billion.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY to 30 Sep 2025 = 2280000000 − 3851000000 = ZAR -1,571,000,000 (exact)

Operating cash flow less profit, FY to 30 Sep 2024 = 2954000000 − 3012000000 = ZAR -58,000,000 (exact)
Transcorp Nigeria TRANSCORP · NGX FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: NGN -96,728,953,000Operating cash flow less profit, FY2024: NGN -15,652,422,000Reports in NGN Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 NGN 78.4 billion against NGN 94.1 billion, FY2025 NGN 39.2 billion against NGN 136 billion.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = 39180917000 − 135909870000 = NGN -96,728,953,000 (exact)

Operating cash flow less profit, FY2024 = 78436329000 − 94088751000 = NGN -15,652,422,000 (exact)
Transcorp Power Nigeria TRANSPOWER · NGX FY2024 ended 31 Dec 2024FY2023 ended 31 Dec 2023 Operating cash flow less profit, FY2024: NGN -25,164,822,000Operating cash flow less profit, FY2023: NGN -5,203,322,000Reports in NGN Operating cash flow was below profit for the year in FY2023 and FY2024: FY2023 NGN 25.0 billion against NGN 30.2 billion, FY2024 NGN 54.8 billion against NGN 80.0 billion.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2024 = 54848446000 − 80013268000 = NGN -25,164,822,000 (exact)

Operating cash flow less profit, FY2023 = 25030208000 − 30233530000 = NGN -5,203,322,000 (exact)
Tuninvest Sicar Tunisia TINV · BVMT FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: TND -1,828,946Operating cash flow less profit, FY2024: TND -303,270Reports in TND Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 TND 484 thousand against TND 787 thousand, FY2025 TND 483 thousand against TND 2.31 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = 482540 − 2311486 = TND -1,828,946 (exact)

Operating cash flow less profit, FY2024 = 484190 − 787460 = TND -303,270 (exact)
Tunis Re Tunisia TRE · BVMT FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: TND -12,918,892Operating cash flow less profit, FY2024: TND -16,120,777Reports in TND Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 TND 5.29 million against TND 21.4 million, FY2025 TND 14.1 million against TND 27.0 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = 14061316 − 26980208 = TND -12,918,892 (exact)

Operating cash flow less profit, FY2024 = 5285399 − 21406176 = TND -16,120,777 (exact)
Turnstar Botswana TURNSTAR · BSE FY to 31 Jan 2026FY to 31 Jan 2025 Operating cash flow less profit, FY to 31 Jan 2026: BWP -18,618,576Operating cash flow less profit, FY to 31 Jan 2025: BWP -117,446,215Reports in BWP Operating cash flow was below profit for the year in FY to 31 Jan 2025 and FY to 31 Jan 2026: FY to 31 Jan 2025 BWP 23.2 million against BWP 141 million, FY to 31 Jan 2026 BWP 32.1 million against BWP 50.7 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY to 31 Jan 2026 = 32088612 − 50707188 = BWP -18,618,576 (exact)

Operating cash flow less profit, FY to 31 Jan 2025 = 23237365 − 140683580 = BWP -117,446,215 (exact)
Unifreight Africa Zimbabwe UNIF.ZW · ZSE FY2024 ended 31 Dec 2024FY2023 ended 31 Dec 2023 Operating cash flow less profit, FY2024: ZWG -58,567,745Operating cash flow less profit, FY2023: ZWG -212,392,359Reports in ZWG Operating cash flow was below profit for the year in FY2023 and FY2024: FY2023 ZWG 519 million against ZWG 732 million, FY2024 ZWG 285 million against ZWG 344 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2024 = 284944412 − 343512157 = ZWG -58,567,745 (exact)

Operating cash flow less profit, FY2023 = 519306481 − 731698840 = ZWG -212,392,359 (exact)
University Press Nigeria UPL · NGX FY to 31 Mar 2026FY to 31 Mar 2025 Operating cash flow less profit, FY to 31 Mar 2026: NGN -225,271,000Operating cash flow less profit, FY to 31 Mar 2025: NGN -828,557,000Reports in NGN Operating cash flow was below profit for the year in FY to 31 Mar 2025 and FY to 31 Mar 2026: FY to 31 Mar 2025 NGN −378 million against NGN 451 million, FY to 31 Mar 2026 NGN −11.6 million against NGN 214 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY to 31 Mar 2026 = -11598000 − 213673000 = NGN -225,271,000 (exact)

Operating cash flow less profit, FY to 31 Mar 2025 = -377931000 − 450626000 = NGN -828,557,000 (exact)
UPDC REIT Nigeria UPDCREIT · NGX FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: NGN -1,980,866,000Operating cash flow less profit, FY2024: NGN -2,567,291,000Reports in NGN Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 NGN 2.13 billion against NGN 4.70 billion, FY2025 NGN 2.35 billion against NGN 4.33 billion.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = 2354032000 − 4334898000 = NGN -1,980,866,000 (exact)

Operating cash flow less profit, FY2024 = 2130327000 − 4697618000 = NGN -2,567,291,000 (exact)
Vicenne Morocco VCN · BVC FY2025 ended 31 Dec 2025FY2024 ended 31 Dec 2024 Operating cash flow less profit, FY2025: MAD -84,833,850Operating cash flow less profit, FY2024: MAD -290,369,084Reports in MAD Operating cash flow was below profit for the year in FY2024 and FY2025: FY2024 MAD −199 million against MAD 91.2 million, FY2025 MAD 59.4 million against MAD 144 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2025 = 59368120 − 144201970 = MAD -84,833,850 (exact)

Operating cash flow less profit, FY2024 = -199145696 − 91223388 = MAD -290,369,084 (exact)
Vukile South Africa VKE · A2XVKN · NSX FY to 31 Mar 2026FY to 31 Mar 2025 Operating cash flow less profit, FY to 31 Mar 2026: ZAR -2,655,000,000Operating cash flow less profit, FY to 31 Mar 2025: ZAR -617,000,000Reports in ZAR Operating cash flow was below profit for the year in FY to 31 Mar 2025 and FY to 31 Mar 2026: FY to 31 Mar 2025 ZAR 2.62 billion against ZAR 3.23 billion, FY to 31 Mar 2026 ZAR 3.46 billion against ZAR 6.11 billion.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY to 31 Mar 2026 = 3457000000 − 6112000000 = ZAR -2,655,000,000 (exact)

Operating cash flow less profit, FY to 31 Mar 2025 = 2615000000 − 3232000000 = ZAR -617,000,000 (exact)
Vunani South Africa VUN · A2X FY to 28 Feb 2026FY to 28 Feb 2025 Operating cash flow less profit, FY to 28 Feb 2026: ZAR -6,414,000Operating cash flow less profit, FY to 28 Feb 2025: ZAR -16,053,000Reports in ZAR Operating cash flow was below profit for the year in FY to 28 Feb 2025 and FY to 28 Feb 2026: FY to 28 Feb 2025 ZAR −19.2 million against ZAR −3.13 million, FY to 28 Feb 2026 ZAR 30.0 million against ZAR 36.4 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY to 28 Feb 2026 = 29962000 − 36376000 = ZAR -6,414,000 (exact)

Operating cash flow less profit, FY to 28 Feb 2025 = -19180000 − -3127000 = ZAR -16,053,000 (exact)
WestProp Zimbabwe WPHL.VX · VFEX FY2023 ended 31 Dec 2023FY2022 ended 31 Dec 2022 Operating cash flow less profit, FY2023: USD -43,508,251Operating cash flow less profit, FY2022: USD -41,750,521Reports in USD Operating cash flow was below profit for the year in FY2022 and FY2023: FY2022 USD 13.2 million against USD 54.9 million, FY2023 USD 6.78 million against USD 50.3 million.
Sources and calculation

Operating cash flow below profit, two years running

Operating cash flow less profit, FY2023 = 6775952 − 50284203 = USD -43,508,251 (exact)

Operating cash flow less profit, FY2022 = 13172086 − 54922607 = USD -41,750,521 (exact)
182 companies could not be assessed for this criterion

These companies are not counted as matches or non-matches. A company is here when a figure or year needed for at least one selected criterion is not published or the criterion does not apply to its type of accounts.