Nictus Holdings has achieved a remarkable N$1 billion in revenue for the year ended 30 June 2023, surpassing revenue of the previous year by 9%, Business Express understands.
In the same period, the diversified Group increased its total assets by 25% rising from N$2.1 billion to N$2.6 billion.
Subsequently, net worth per share stormed to 426.92 cents per share up from 375.47 cents per share.
“We continue to deal with exceptionally demanding economic circumstances. Over the past 12 months, we experienced significant interest rate hikes and are still affected by the world macroeconomic environment, which significantly impacts us here in Namibia. While we are a small component in relation to the world economy, we have learned to convert challenges into opportunities, benefiting Namibians and promoting prosperity. The good news is that most expectations and forecasts seem to indicate that we might have reached the peak of the current interest rate hike cycle, and in the foreseeable future, we may even experience interest rate reductions. We are thankful that inflation has been curbed.
“We are of the opinion that the aftereffects of these hikes and changes in the economy are yet to impact the consumer. This gives the Nictus Group an opportunity once again to be innovative, smart, and resilient in offering unique products, services and solutions to our entire customer and client base, thus joining hands in Namibia to withstand all macroeconomic challenges and prosper in our beloved country. We welcome the optimistic outlook of developments in oil and green hydrogen in Namibia, and we envisage exciting times ahead,” Nictus Holdings Group Chairperson, Gerard Tromp said.
Despite these positive results however, profit decreased by 4% to N$41.2 million (2022: N$42.8 million).
Nictus Managing Director, Philippus Tromp commented: “We are committed to becoming Exceptional Wealth Creators for all our stakeholders and are consistently seeking to expand our offerings through related diversification. We remain steadfast in our values and strive to work for the betterment of the country and its people. Despite the global and local uncertainties brought about by looming recessions, I believe we are poised for growth in these circumstances. Opportunities always exist; one merely needs to seek them out and seize the best ones. Our management team, employees, and leadership have exhibited an unprecedented level of ownership and commitment, which I am immensely proud of. Once again, I extend my heartfelt appreciation to each and every employee for their dedication and contributions.
“I am excited about what the future holds for the Group. The new ventures undertaken in the past 18 months are living up to expectations, and I am confident that they will mature within the next 24 months, contributing to our vision of becoming Exceptional Wealth Creators. As previously mentioned, new opportunities are on the horizon that could further contribute to our goals. This is a continuous process that we are committed to investigating.”
Ordinary dividends of 26 cents per share (N$13.9 million) were declared and paid by the Company on 31 October 2022. Final dividend of 26 cents per share (N$13.9 million) was approved by the board on 12 September 2023 in respect of the year ended 30 June 2023. The dividend will be declared out of retained earnings. The dividend has not been provided for and there are no accounting implications for the current financial year.
The Nictus Group of Companies was founded in 1945 and was listed on the JSE in 1969. The company’s main business operations were based in South West Africa. The main reason for the listing was to build equity to expand its operations into Southern Africa.
During 2012, Nictus Holdings Limited was unbundled from the JSE listed company, and on 21 September 2012 was primary listed on the Namibian Stock Exchange (NSX). Nictus is the holding company of a Group of companies, which retail motor vehicles, tyres, automotive glass, furniture and provides financial and insurance services in Namibia. The Group operates in three segments, namely retail, properties as well as insurance and finance.
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