Namibia | NSX

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 billion and headline earnings per share increased by 10.3% 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 cps was declared, bringing the total dividends for the financial year to 60 cps (FY20: 50 cps).

The  NSX  Overall  Index  closed  at  1460.66  points  at  the  end  of  October,  up  from  1445.09  points  in  September,  gaining 1.5% m/m on a total return basis in October compared to a 4.7% m/m decrease in September. The NSX  Local Index increased 2.6% m/m compared to a 0.8% m/m increase in September. Over the last 12 months, the  NSX  Overall  Index  returned  53.0%  against  6.8%  for  the  Local  Index.  The  best  performing  share  on  the  NSX  in  October  was  Bannerman  Resources  Limited,  gaining  36.3%,  while  Oceana  Group  was  the  worst  performer,  dropping 7.9%.

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.

Letshego Holdings (Namibia) Ltd (LHN) released interim results for the period ended 30 June 2021 (1H21). Earnings and headline earnings per share increased by 26.2% y/y from 25.31cps to 31.9cps, while profit after tax increased by 26.2% y/y to N$159.6 million. Total income rose by 25.9% y/y. The higher profit stems from growth in interest income from the company’s expanding advances book as well as significant growth in dividend income from the cell captive insurance agreement with Hollard.

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%.