The local market was active this week, with the NSX Local index up 1.48% at 439, and the NSX Overall Index down 2.99% at 1393. As at 25 May, Capricorn Group was the largest local company on the exchange, with market capitalization of N$ 6.9 billion, followed by FirstRand Namibia with N$ 6.7 billion, Namibia Breweries with N$ 6.4 billion and Trustco Group with N$ 3.7 billion. Oryx Properties lead the market this week with growth of 14.8% to close at N$ 11.48 per share, with Namibia Asset Management in second place at N$ 0.65 per share after growth of 3.17%. In terms of volume Namibia Asset Management lead the market with N$ 1.1 million worth of shares traded, with FirstRand Namibia in second place with N$ 722 thousand worth of shares traded. The local currency gained 1.02% against the US Dollar, to close at N$ 13.89 per USD, and gained 1.26% against the British Pound, to close at N$ 19.60 per GBP. It closed at N$ 16.97 against the Euro, a gain of 0.77%.
Namibia Asset Management released their reviewed interim results for the six months ended 31 March 2021, and revealed that while operating profit was down 5.1% to N$ 8.6 million, total comprehensive income was up 28.2% to N$ 7.4 million. As a result, both basic as well as headline earnings per share showed an increase of 7% to 4.42 cents per share, with net asset value increasing by 16.8% to 13.02 cents per share. They noted that their assets under management increased by 5.3% for the period to N$ 17.9 billion. Namibia Asset Management noted that as both businesses and households remain under pressure economically, they expect the savings industry to contract, but they will keep investing in their business and its people in its quest to remain a world-class asset management company.
