The local market was active this week, with the NSX Local index down 1.01% at 412, and the NSX Overall Index up 3.61% at 1348. As at 23 February, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 6.4 billion, followed by FirstRand Namibia with N$ 6.2 billion, Capricorn Group with N$ 5.2 billion and Trustco Group with N$ 4.2 billion. Namibia Breweries lead the market this week with growth of 1.61% to close at N$ 31.00 per share, with Trustco Group in second place at N$ 2.60 per share after growth of 0.39%. In terms of volume Stimulus Investments lead the market with N$ 5.5 million worth of shares traded, with Oryx Properties in second place with N$ 1.2 million worth of shares traded. The local currency gained 0.46% against the US Dollar, to close at N$ 14.65 per USD, and lost 0.15% against the British Pound, to close at N$ 20.36 per GBP. It closed at N$ 17.74 against the Euro, a gain of 0.55%.
Letshego Holdings Namibia released its trading statement for the year ending 31 December 2020, and announced that it will be restating its 2018 and 2019 audited financial results. As a result, both basic as well as headline earnings per share for the years ended 2018 and 2019 will be adjusted downwards, by 13.6% and 11% respectively to 81c per share and 80c per share respectively. Following these restatements, Letshego announced that the 2020 basic and headline earnings per share is expected to be between 15% and 20% less than the restated 2019 numbers, and is expected to be between 64c and 68c per share.