The local market was active this week, with the NSX Local index down 0.06% at 467, and the NSX Overall Index up 2.09% at 1469. As of 12 October, FirstRand Namibia was the largest local company on the exchange, with market capitalization of N$ 7.8 billion, followed by Namibia Breweries with N$ 7.1 billion, Capricorn Group with N$ 7 billion and Standard Bank Namibia with N$ 3.4 billion. Agra Ltd lead the market this week with growth of 0.55% to close at N$ 1.84 per share, with FirstRand Namibia in second place, closing at N$ 29.01 after growth of 0.03%. In terms of volume FirstRand Namibia lead the market with N$ 6.8 million worth of shares traded, with Letshego Holdings in second place with N$ 2.2 million worth of shares traded. The local currency gained 0.61% against the US Dollar, to close at N$ 14.94 per USD, and gained 0.93% against the British Pound, to close at N$ 20.30 per GBP. It closed at N$ 17.26 against the Euro, a gain of 1.02%.
Namibia Breweries released its provisional consolidated annual financial statement for the year ended 30 June 2021, and revealed that while revenue only grew by 0.1% to N$ 2.6 billion compared to the corresponding period, profit for the year grew by 43.4% to N$ 378 million. As a result, both basic and headline earnings showed growth of 42.9% and 41.9% respectively to 180.7c per share and 178.2c per share respectively. They noted that operating expenses decreased by 7.14% due to lower volumes and effective cost management, as part of their margin protection initiatives. Of note is that beer volumes in Namibia increased by 13% against the prior year, bringing it to within 2% of 2019 volumes, but volumes to South Africa fell by 36% for the year, down 51% from 2019 volumes.