Uncertainty Remains as Schaffer Corporation Ends Old Buy-Back and Starts New Program

Closure of Previous Buy-Back Program

Schaffer Corporation Limited (ASX:SFC) has formally closed its on-market share buy-back program that was originally announced on 27 May 2022. The program concluded as scheduled on 30 June 2025, with the last share purchase under this initiative reported on 4 July 2023. This closure marks the end of a capital management phase that spanned over three years.

Announcement of New Buy-Back Program

Concurrently, Schaffer Corporation has announced the commencement of a new on-market share buy-back program. While the company has not yet disclosed the specific terms or scale of this new buy-back, it has indicated that an ASX Form 3C detailing the program will be released shortly. This suggests a continuation of the company's approach to capital management through share repurchases.

Context Within Recent Financial Performance

The announcement comes in the wake of Schaffer Corporation's recent half-year financial results, which showed a significant decline in profitability. In February 2026, the company reported a 61% drop in net profit to $5 million, attributed in part to operational disruptions including a Jaguar Land Rover cyberattack affecting its Automotive Leather division. Despite these challenges, the company maintained its interim dividend and is now moving forward with renewed capital management initiatives.

It remains to be seen how the new buy-back program will be structured in terms of volume and duration, and how it might interact with the company's broader financial strategy amid ongoing market headwinds. Investors and market participants will likely await the forthcoming ASX Form 3C for further clarity.

Next Steps and Market Implications

Schaffer Corporation's Company Secretary, Jason Cantwell, is the designated contact for further information. Market observers will be monitoring the details of the new buy-back program once released, as well as any subsequent market reaction. Typically, share buy-backs can influence share price dynamics and signal management's views on capital allocation, though the precise impact depends on the program's scale and execution.