Nictus profit climbs 19%
Nictus Holdings has reported a 19% rise in profit for the year to 30 June 2026, to N$70 million, despite lower operating and pre-tax profit.
The increase was driven largely by a stronger performance from its insurance and finance segment and a sharp reduction in the group's tax charge.
Profit rose from N$58.9 million a year earlier. Basic earnings per share increased to 130.98 cents from 110.12 cents, while headline earnings per share rose 21% to 130.62 cents from 107.53 cents.
The board approved a final dividend of 35 cents a share, equivalent to about N$18.7 million. The last day to trade cum dividend is 23 October, shares will trade ex-dividend from 26 October, the record date is 30 October and payment is due on 2 November.
Total revenue increased 15% to N$1.17 billion, while gross profit rose 6% to N$271.1 million. Operating and administrative expenses, however, increased 15% to N$274.4m, contributing to a 3% decline in operating profit to N$73.5 million.
Profit before tax fell 4% to N$71.3 million from N$74.1 million. The tax charge, however, fell to N$1.3 million from N$15.2 million, helping to lift profit for the year.
The insurance and finance segment was the strongest performer, with profit rising 27% to N$64.6 million from N$50.8 million.
Retail remained profitable but profit fell to N$4.8 million from N$13.8 million, while property profit declined to N$1.7 million from N$13 million. The group said investments in its property segment and retail subsidiaries had affected short-term profitability.
The directors said the group had delivered a "strong financial performance" and "again achieved a record profit" despite a challenging operating environment.
"Significant investments were made in our Property Segment and Retail Subsidiaries. Although these investments may affect profitability in the short-term, we are confident that these commitments will bear fruit in the years to come, in some cases earlier than expected," the board said.
Capital expenditure on property, plant and equipment more than doubled to N$124.8 million from N$56.3 million .
Cash and cash equivalents increased 31% to N$1.36 billion, while total assets rose 26% to N$3.3 billion. Net asset value per share increased 17% to 743.26 cents.
Nictus also entered into a binding agreement to sell its entire investment in Isuzu Truck Namibia, a subsidiary whose principal activity is the ownership and management of investment property.
The disposal forms part of the group's strategy to optimise and rationalise its property portfolio. The transaction is expected to be completed within 12 months, with the disposal group's net carrying amount at 30 June 2026 standing at N$10.8 million.
