Namibia | NSX

Standard Bank Namibia Holdings Ltd (SNO) released interim results for the period ended 30 June 2021 (1H21). The financial results highlight the difficult operating environment as well as low interest rate environment the company has to navigate as profit after tax fell by 16.5% y/y to N$189.6 million from N$223.9m in 1H20.ROE droppedfor a fifth consecutive year from the 11.1% recorded in 1H20 to 9.0% in 1H21. Earnings and headline earnings per share contracted by 18.2% y/y from 44cps to 36cpsand aninterim dividend of 16cps was declared (1H20: 21cps)...

The NSX Overall Index closed at 1445.09 points at the end of September, down from 1524.94 points in August,  losing 4.7% m/m on a total return basis in September compared to a 6.6% m/m increase in August. The NSX Local  Index increased 0.8% m/m compared to a 0.2% m/m increase in August. Over the last 12 months the NSX Overall  Index returned 40.2% against 4.8% for the Local Index. The best performing share on the NSX in September was  Bannerman Resources Limited, gaining 45.2%, while Truworths was the worst performer, dropping 15.3%.

Namibia Breweries (NBS) released results for the year ended 30June 2021. Revenue for the period increased marginally by 0.4% y/y to N$3.41 billion. Basic EPS rose by 42.8% y/y to 180.7 cps primarily due to costs being well contained and a lower equity loss from associate. HEPS increased by 41.9% y/y to 178.2 cps. Overall volumes were once again impacted by the Covid-19 restrictions, especially in South Africa, declining by 4.9% y/y. No final dividend has been declared for the period, as the potential Heineken transaction is conditional to NBS not declaring a dividend, should it go through. The results release does however note that should discussions regarding the transaction be terminated, that the company intends to declare a final dividend...

Paratus Namibia Holdings Ltd (PNH) released full year results for the period ended 30 June 2021 (FY21). IJG has  adjusted  FY20  results  to  reflect  a  12-month  period  instead  of  the  16  months  reported  by  PNH  for comparability purposes.The performance therefore reflects our adjustments and mention of FY20 refers to our adjusted results.

Mobile Telecommunications Limited (MTC) released their prospectus for their initial public offering (IPO) in which they plan to issue a maximum of 367.5million ordinary shares at an offer price of 850cps, which will make it the largest listing in the Namibian Stock Exchange’s(“NSX”)history. Applications open today and will close on the 1stof November,withthe listing anticipated to take place on 19November. The prospectus highlights that selected Namibian institutional investors provided pre-commitments to subscribe for a minimum of 282.9 millionshares at the listing price of 850cpsahead of the IPO,although it should be noted that individual (retail) investors will be given preferential allocation.

Capricorn Group Ltd (CGP) released results for the year ended 30 June 2021 (FY21). Profit after tax from continuing operations posted moderate growth of 1.2% y/y to N$1.02 billionandheadline earnings per share increased from 157.2 cps to 173.4 cps.ROE for the year came in at 14.2%, while the ROE from continuing operations amounted to 14.8% (FY20: 15.7%). A final dividend of 38 cpswas declared, bringing the total dividends for the financial year to 60 cps (FY20: 50 cps) ...