In the local market this week, the NSX Local index down 0.30% at 468, and the NSX Overall Index down 1.63% at 1448.6. As at 9 November 2021, FirstRand Namibia Limited was the largest local company on the exchange, with market capitalization of N$ 7.8 billion, followed by Namibia Breweries with N$ 7.2 billion, Capricorn Group Limited with N$ 6.8 billion and SBN Holdings Ltd with N$ 3.4 billion. In terms of volume FirstRand Namibia Limited lead the market with N$ 0.5 million worth of shares traded, with Agra Ltd in second place with N$ 0.2 million worth of shares traded. The local currency gained 2.55% against the US Dollar, to close at N$ 15.03 per USD, and gained 2.95% against the British Pound, to close at N$ 20.37 per GBP. It closed at N$ 20.37 against the Euro, a gain of 2.43%.
Agra Ltd released its audited consolidated group financial results for the year ended 31 July 2021, and revealed that while revenue has only increased by 1.5% to N$ 1.814 million, profit before tax nearly doubled from N$ 42.8 million to N$ 86.4 million. As a result, basic earnings per share increased from 26.13c per share to 58.67c per share, with headline earnings per share increasing from 30.8c per share to 56.95c per share. Their board of directors thus declared a final dividend to 10c per share, double that of last year, with a payment date of 28 January 2021. Given the good rains as a positive stimulus for the agricultural sector, and Agra’s contingencies that are in place to manage the impact of COVID-19 measures, management is confident of their going concern status, but will continue to incorporate the uncertainty caused by the pandemic in their risk assessments.