Letshego Holdings (Namibia) Ltd (LHN) released results for the year ended 31 December 2020 (FY20). Earnings and headline earnings per share declined by 20.0% y/y from 80cps (restated) in FY19 to 64cps, while profit after tax contracted by 20.0% y/y to N$320.9 million. Total revenue fell by 6.7% y/y. The lower profit has resulted in LHN’s ROE falling from 19.9% in FY19 to 14.1% in FY20 and ROA declining from 11.6% to 8.2%. A final dividend of 22.5cps (FY19: 22.5cps) was declared, representing an increase in LHN’s dividend payout ratio from the historic 25% of profit after tax to 35%.
