CHAMWE KAIRAÂ
The profit of Nictus Holdings Limited after tax increased to N$31 million in the six months ending 31 December 2024, compared to N$25 million in 2023.
Operating profit for the six months ended 31 December 2024 decreased to N$37 million, compared to N$39 million in the same period in 2023.
Ordinary dividends of 35 cents per share (N$18.7 million) were declared on 19 September 2024 and paid by the company on 4 November 2024. No interim dividend has been proposed by the board of directors.
“During the first six months of the year, the Group achieved a 21% increase in profit compared to the same period last year. Looking ahead to the next six months, we anticipate various opportunities for growth and improvement across all segments. By focusing on strategic initiatives, managing costs effectively, and expanding into new markets, we aim to further enhance our financial performance,” the company said.
The retail segment recorded a 12% increase in revenue compared to the comparison period. Despite facing challenges in vehicle sales, the segment experienced strong performance in furniture and tyre sales, which exceeded expectations. However, the segment’s profit after tax declined by 6%. This downturn was primarily attributed to costs incurred in supporting the growth of the underlying businesses within the segment.
The property segment achieved a 12% increase in revenue compared to the comparative period, alongside an improvement in profitability. The company said this enhancement in profitability is primarily due to lower interest rates. Furthermore, optimising maintenance expenses has positively impacted the overall financial performance. It is anticipated that maintenance projects will be undertaken in the second half of the financial year.
The insurance and finance segment experienced a 15% increase in revenue, accompanied by a 31% growth in profitability. This improvement in profitability can be primarily attributed to an increase in investment income.
“The segment benefitted from a rise in new premiums compared to the previous year, which further contributed to the overall profitability.
At the Annual General Meeting held on 28 November 2024, GR de V Tromp and SW Walters were re-elected as directors and members of the audit and risk committee.
Additionally, ME Ackermann and CA Snyman were elected as directors. ME Ackermann was also appointed as chairperson and member of the audit and risk committee.
TB Horn’s term of office expired on 28 November 2024.
She ceased to be a director and a member and chairperson of the audit and risk committee.
The company’s current directors are GR de V Tromp (non-executive chairman), SW Walters (independent non-executive lead director), ME Ackermann (independent non-executive director), PJ de W Tromp (group managing director) and CA Snyman (group financial director).
