The local market remained stable this week, with the NSX Local index up 0.2% at 617, and the NSX Overall Index up 0.17% at 1322. As at 29 October, Trustco Group was the largest local company on the exchange, with market capitalization of N$ 11.4 billion, followed by Namibia Breweries with N$ 10 billion, FirstRand Namibia with N$ 8.9 billion, and Capricorn Investment Group with N$ 8 billion. Trustco Group lead the market this week, closing at N$ 9.44 per share after growth of 4.31%, with Namibia Asset Management in second place, closing at 56c per share after growth of 1.82%.
In terms of volume Trustco Group lead the market with N$ 1.48 million worth of shares traded, with Namibia Asset Management in second place with N$ 178 thousand worth of shares traded. The local currency lost 0.03% against the US Dollar, to close at N$ 14.59 per USD, and gained 0.05% against the British Pound, to close at N$ 18.78 per GBP. It closed at N$ 16.21 against the Euro, a gain of 0.08%.
Agra Ltd announced its audited consolidated group financial results for the year ending 31 July 2019, and revealed that revenue had gone up by 14.3% for the year to N$ 1.73 billion. Unfortunately, as a result of an increase in low-margin sales, the gross profit did not increase by the same amount, resulting in net profit for the year decreasing by 24.1% to N$ 24 million.
As a result, while net asset value per share increase to N$ 4.08 from N$ 3.90 last year, the basic earning per share and headline earning per share decreased to 23.74c and 23.78c, from 31.15c and 34.02c respectively.
Nevertheless, a final dividend of 4c per share was declared on 22 October 2019.