Namibia | NSX

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) ...

Oryx Properties Limited (Oryx) released results for the year ended 30 June 2021 (FY21), reporting 43.0% distribution growth to 99.8cpu from 69.8cpu, with the growth largely attributable to Oryx not declaring a final distribution in FY20. Over the same period earnings attributable to linked units (EPU) increased from a loss of 110.63c to a profit of 111.28c per unit. HEPU rose by 4,520.6% y/y to 179.28c following the 97.2% contraction recorded in FY20.

FirstRand Namibia Ltd (FNB) released results for the year ended 30 June 2021 (FY21). Despite operating conditions remaining challenging over the period, the group recorded a 23.9% y/y increase in profit after tax to N$1.03 billion, while headline earning per share increased by 17.8% y/y to 391.2cps. FNB posted an impressive ROE of 19.4% (FY20: 16.0%) and a ROA of 2.3% (FY20: 1.9%). A final dividend of 118cps (+136% y/y) was declared for the period.