Namibia Asset Management Ltd. Announces Audited Consolidated and Company Earnings Results for the Year Ended September 30, 2013; Recommends Normal Dividend, Payable on December 4, 2013
February 19, 2014
Share
Namibia Asset Management Ltd. announced audited consolidated and company earnings results for the year ended September 30, 2013. For the year, on consolidated basis, the company announced revenue of NAD 63,848,283 compared to NAD 41,645,220 for the same period a year ago. Operating profit was NAD 13,595,660 compared to NAD 10,720,110 for the same period a year ago. Profit before tax was NAD 14,782,805 compared to NAD 11,446,886 for the same period a year ago. Profit attributable to ordinary shareholders was NAD 10,101,250 or 5.98 cents per diluted share compared to NAD 7,694,190 or 4.60 cents per diluted share for the same period a year ago. Net cash flow from operating activities was NAD 1,115,596 compared to NAD 1,744,640 for the same period a year ago. Acquisition of equipment and intangibles to maintain operations was NAD 349,816 compared to NAD 61,519 for the same period a year ago. Headline earnings were NAD 10,100,200 or 5.98 cents per basic share compared to NAD 7,694,190 or 4.64 cents per basic share for the same period a year ago. Revenue increased by 53.3%. This is attributable to good
performance across the two business segments and exceptional in-flows both Business Units.
For the year, on company basis, the company announced revenue of NAD 49,627,330 compared to NAD 34,938,727 for the same period a year ago. Operating profit was NAD 12,040,242 compared to NAD 9,435,281 for the same period a year ago. Profit before tax was NAD 13,884,427 compared to NAD 10,810,036 for the same period a year ago. Profit attributable to ordinary shareholders was NAD 9,627,426 or 4.81 cents per diluted share compared to NAD 7,447,488 or 3.72 cents per diluted share for the same period a year ago. Net cash flow from operating activities was NAD 436,255 compared to net cash used in operating activities of NAD 108,157 for the same period a year ago. Acquisition of equipment and intangibles to maintain operations was NAD 349,816 compared to NAD 61,519 for the same period a year ago. Headline earnings were NAD 9,626,376 or 4.81 cents per basic share compared to NAD 7,447,488 or 3.72 cents per basic share for the same period a year ago.
The company's board recommended a normal dividend of 4 cents per ordinary share compared to 4 cents per ordinary share paid in the same period a year ago. Ex-dividend date is November 18, 2013, record date is November 22, 2013 and payment date is December 4, 2013.
Namibia Asset Management Limited is a Namibia-based asset management company. The Company manages investments for both institutional and retail clients. The Company operates through the asset management segment. The Company is engaged in providing both individual and institutional investors with a platform to build financial wealth. It offers a range of segregated and pooled products with exposure to domestic, regional and global equity, as well as fixed interest and listed property. The Company manages institutional assets on behalf of a range of clients, including pension and provident funds, medical aid schemes and trusts. The Company's unit trust offerings include NAM Coronation Strategic Income Fund, NAM Coronation Balanced Defensive Fund, NAM Coronation Capital Plus Fund, NAM Coronation Balanced Plus Fund, NAM Coronation Money Market Fund and NAM Coronation Optimum Growth Fund. The Companyâs wholly owned subsidiary is Namibia Unit Trust Managers Ltd.
Namibia Asset Management Ltd. Announces Audited Consolidated and Company Earnings Results for the Year Ended September 30, 2013; Recommends Normal Dividend, Payable on December 4, 2013