Namibia Asset Management expects its earnings to increase between 15 percent and 25 percent for the year ended 30 September, the company announced this week.
The company announced that Earnings per share (EPS) and headline earnings per share (HEPS)
for the year ended 30 September 2023 are expected to increase between 15 percent and 25 percent (between 1.04 and 1.73 cents per share) when compared to the EPS (6.92 cents) and HEPS (6.92 cents) reported for the year ended 30 September 2022.
The company further said fund management earnings per share (FMEPS) for the year ended 30 September are however expected to decrease between one percent and 10 percent (between 0.08 and 0.75 cents per share) when compared to the FMEPS of 7.52 cents per share for the year ended 30 September 2022.
FMEPS is used by management to measure true operating financial performance. FMEPS excludes the net mark-to-market impact of fair value gains and losses on our investments held in marketable securities.
The company’s annual financial results for the year ended 30 September are expected to be released on 16 November.
According to the company’s integrated report of 2022, the unfavourable and challenging operating environment resulted in total assets under management declining by 12.9 percent to N$16.2 billion (September 2021: N$18.6 billion).
The institutional assets recorded a decline to N$13.8 billion (September 2021: N$16.2 billion), while retail assets recorded a decline to N$2.4 billion (September 2021: N$2.8 billion).
Revenue declined slightly by 0.7 percent from N$90.9 million in 2021 to N$90.3 million in 2022 as a result of reduced assets under management.
