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