Nictus Holdings Limited

(Incorporated in the Republic of Namibia)

(Registration number 1962/1735)

Share Code: NHL

ISIN Code: NA000A1J2SS6

UNAUDITED CONSOLIDATED GROUP FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020

Unaudited

Audited

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS & OTHER COMPREHENSIVE INCOME

Six months

Six months

Change Year ended

ended

ended

%

Figures in N$'000

Note 30 Sept 20

30 Sept 19

31 March 20

Revenue

4

Cost of sales

Claims incurred

Gross profit

Other income

Other operating gains

Investment income from operations

Operating and administrative expenses

Operating profit

Investment income

Operating profit before financing costs

5

Financing costs

Profit before taxation

Taxation

Profit for the period

Total comprehensive income for the period

Other comprehensive income:

Total comprehensive income for the year

Total comprehensive income attributable to:

Owners of the Parent

Earnings per share

Basic and diluted earnings per share (cents)***

10

Basic and diluted earnings per share before

treasury shares adjustment (cents)***

Dividends per share (cents) * **

Net asset value per share (cents) Number of shares in issue (000's)

Number of Treasury shares held in Group (000's)

  • Dividends paid August 2020 of 12 cents per share
  • Dividends paid July 2019 of 12 cents per share
  • Shareholders are advised that the 2019 interim results SENS announcement erroneously disclosed the Basic and diluted earnings per share as 2.13 cents per share and the Basic and diluted earnings per share (before treasury share adjustement) as 2.17 cents per share, which has been corrected in the 2020 interim results SENS announcement.

285,530

316,645

(10)

631,060

(190,076)

(225,635)

(16)

(420,019)

(11,964)

(2,979)

302

(8,102)

83,490

88,031

(5)

202,939

3,763

3,287

14

5,006

5

84

(94)

1,132

8,566

16,581

(48)

30,833

(89,181)

(103,428)

(14)

(220,643)

6,643

4,555

46

19,267

1,178

1,499

(21)

2,682

7,821

6,054

29

21,949

(2,829)

(5,482)

(48)

(8,904)

4,992

572

773

13,045

(2,874)

568

(606)

(5,683)

2,118

1,140

86

7,362

2,118

1,140

86

7,362

2,118

1,140

86

7,362

2,118

1,140

86

7,362

4,04

2,17

86

14,03

3,96

2,13

86

13,78

12,00

12,00

-

12,00

305,82

301,88

-

313,52

53,444

53,444

-

53,444

983

983

-

983

UnauditedAudited

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Figures in N$'000

30 Sept 20

30 Sept 19

31 Mar 20

ASSETS

Non-current assets

Property, plant and equipment Right of use assets Investment property Intangible assets Investments at fair value Trade and other receivables Deferred tax assets

Current assets

Total assets

860,430

838,739

876,894

345,342

348,970

346,273

6,280

-

6,234

43,642

43,642

43,642

5,374

4,179

3,408

13,245

6,411

13,262

435,097

422,197

451,869

11,450

13,340

12,206

834,972

806,190

1,133,079

1,695,402

1,644,929

2,009,973

EQUITY

163,440

161,337

167,559

Stated capital

129

129

129

Revaluation reserve

58,848

58,848

58,848

Contingency reserve (Insurance)

15,551

15,551

15,551

Retained earnings

88,912

86,809

93,031

LIABILITIES

Non-current liabilities

55,422

47,764

144,906

Interest bearing loans and borrowings

17,314

17,305

108,190

Finance lease liabilities

4,464

4,648

5,179

Deferred tax liabilities

33,644

25,811

31,537

Current liabilities *

1,476,540

1,435,828

1,697,508

Insurance contract liability

1,366,578

1,304,389

1,402,213

Other current liabilities

109,962

131,439

295,295

Total liabilities

1,531,962

1,483,592

1,842,414

Total equity and liabilities

1,695,402

1,644,929

2,009,973

  • Included in current liabilities is the insurance contract liability. Premiums received under this liability are invested in terms of the Short-term insurance Act of 1998, enacted in Namibia with the result that certain investments are of a long term nature.

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Figures in N$'000

Stated

Revaluation

Contingency

Retained

Total

Capital

Reserve

reserve

earnings

equity

Balance at 1 April 2019

129

58,848

15,551

91,817

166,345

Total comprehensive income

-

-

-

1,140

1,140

Profit for the period

-

-

-

1,140

1,140

Contributions by and to the owners of the

Group

-

-

-

(6,148)

(6,148)

Dividends to equity holders

-

-

-

(6,413)

(6,413)

Prescribed dividends

-

-

-

265

265

Balance at 30 September 2019

129

58,848

15,551

86,809

161,337

Total comprehensive income

-

-

-

6,222

6,222

Profit for the period

-

-

-

6,222

6,222

Balance at 31 March 2020

129

58,848

15,551

93,031

167,559

Total comprehensive income

-

-

-

2,118

2,118

Profit for the period

-

-

-

2,118

2,118

Contributions by and to the owners of the

Group

-

-

-

(6,237)

(6,237)

Dividends to equity holders

-

-

-

(6,413)

(6,413)

Prescribed dividends

-

-

-

176

176

Balance at 30 September 2020

129

58,848

15,551

88,912

163,440

Unaudited

Audited

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW

Six months

Six months

Year

ended

ended

ended

Figures in N$'000

30 Sept 20

30 Sept 19

31 Mar 20

Cash (used in) / generated from operations *

(155,548)

14,075

116,508

Interest income

1,178

1,499

2,682

Finance cost

(2,829)

(5,482)

(8,903)

Tax paid

(26)

-

(2,248)

Net cash (used in)/ generated from operating activities

(157,225)

10,092

108,039

Net cash generated from / (used in) investing activities

25,761

27,088

(11,914)

(Repayment of) from interest-bearing loans and borrowings

(84,717)

(92,349)

(8,583)

Payment on lease liabilities

(2,351)

-

-

Dividends paid

(6,413)

(6,413)

(6,413)

Proceeds from / (repayment of) loans from related parties

-

8,943

(33,910)

Net cash (used in) financing activities

(93,481)

(89,819)

(48,906)

Net movement in cash and cash equivalents

(224,945)

(52,639)

47,219

Cash and cash equivalents at beginning of period

473,669

426,450

426,450

Cash and cash equivalents at end of period

248,724

373,811

473,669

  • The re-insurance accrual of N$ 192,6 million as at 31 March 2020 was paid in April 2020. This resulted in a large cash outflow for the reporting period.

RECONCILIATION OF HEADLINE AND DISTRIBUTABLE EARNINGS

Six months

Six months

Year

ended

ended

ended

Figures in N$'000

Note

30 Sept 20

30 Sept 19

31 March 20

Profit for the period, net of taxation

2,118

1,140

7,362

(Profit) / loss on disposal of plant and equipment

(25)

(3)

46

Headline earnings

9

Headline earnings per share (cents)

Headline earnings per share before treasury share adjustment (cents)

2,093

1,137

7,408

3.99

2.17

14.12

3.92

2.13

13.86

Unaudited

Audited

CONDENSED SEGMENT ANALYSIS

Six months

Six months

Change

Year

ended

ended

%

ended

Figures in N$ '000

Note

30 Sept 20

30 Sept 19

31 Mar 20

Segment assets

Retail

245,808

248,638

(1)

247,944

Property

393,041

390,601

1

390,489

Insurance & Finance

1,470,673

1,419,395

4

1,720,668

2,109,522

2,058,634

2

2,359,101

Head office and eliminations

(414,120)

(413,705)

0

(349,128)

6

1,695,402

1,644,929

3

2,009,973

Segment revenue

Retail

243,789

280,947

(13)

528,467

Property (mainly intra-group)

11,047

11,414

(3)

24,207

Insurance & Finance

49,042

54,542

(10)

131,986

303,878

346,903

(12)

684,660

Head office and eliminations

(18,348)

(30,258)

(39)

(53,600)

6

285,530

316,645

(10)

631,060

Operating profit / (loss) after taxation

Retail

158

(6,374)

102

(12,731)

Property

2,110

(2,521)

184

(1,289)

Insurance & Finance

10,106

13,371

(24)

31,327

12,374

4,476

176

17,307

Head office and eliminations

(10,256)

(3,336)

210

(9,945)

6

2,118

1,140

86

7,362

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Nictus Holdings Ltd. published this content on 02 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 December 2020 13:18:02 UTC