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Johannesburg – Furniture, motor and carpet retailer Nictus [JSE:NCS] on Wednesday reported that its full year diluted earnings per share had increased to 18.86 cents from a previous 18.79 cents.
A final dividend of 6.25 cents was declared, compared to 4 cents the year before. Revenue rose by 4.1% to 384.6 million rand and operating profit increased to 11.9 million rand from 9.97 million rand.
Net asset value per share increased by 25.1% to 186.47 cents. Return on shareholders' equity was at 10.2%.
"The results have surpassed the previous year's record performance in most segments. Although our motor segment did not repeat its overall performance of last year, it did remarkably well in comparison to the motor industry in the RSA, and maintained its position in Namibia despite economic conditions and stock shortages," chairman JL Oliver said.
He added that despite the turmoil and volatility which persists in all economies and financial markets, the Nictus Group was again fortunate to be able to maintain a sustainable growth and build shareholder value with a solid capital growth and profit performance.
"We are particularly satisfied with the performance of the RSA Insurance and Finance segment which helped to underpin our strategy to grow the Nictus RSA operations. Our Namibian division of the Insurance and Finance segment performed exceptionally well," he said.
Looking ahead, Oliver said that trading conditions are expected to remain tough, while external factors such as oil prices and food inflation affect their target markets.
He added: "Strategically our objectives remain unchanged, and the Group will strive to increase sales from its profit centres. The Group is driving customer acquisition and retention, and will maintain the quality of all debtors' books. Product sourcing will be expanded as we aim to maximise this competitive advantage. We expect considerable consolidation in our industries within the Group due to the contraction of the global economy".
- I-Net Bridge
A final dividend of 6.25 cents was declared, compared to 4 cents the year before. Revenue rose by 4.1% to 384.6 million rand and operating profit increased to 11.9 million rand from 9.97 million rand.
Net asset value per share increased by 25.1% to 186.47 cents. Return on shareholders' equity was at 10.2%.
"The results have surpassed the previous year's record performance in most segments. Although our motor segment did not repeat its overall performance of last year, it did remarkably well in comparison to the motor industry in the RSA, and maintained its position in Namibia despite economic conditions and stock shortages," chairman JL Oliver said.
He added that despite the turmoil and volatility which persists in all economies and financial markets, the Nictus Group was again fortunate to be able to maintain a sustainable growth and build shareholder value with a solid capital growth and profit performance.
"We are particularly satisfied with the performance of the RSA Insurance and Finance segment which helped to underpin our strategy to grow the Nictus RSA operations. Our Namibian division of the Insurance and Finance segment performed exceptionally well," he said.
Looking ahead, Oliver said that trading conditions are expected to remain tough, while external factors such as oil prices and food inflation affect their target markets.
He added: "Strategically our objectives remain unchanged, and the Group will strive to increase sales from its profit centres. The Group is driving customer acquisition and retention, and will maintain the quality of all debtors' books. Product sourcing will be expanded as we aim to maximise this competitive advantage. We expect considerable consolidation in our industries within the Group due to the contraction of the global economy".
- I-Net Bridge
