Select your Top Menu from wp menus
  • Instagram
Market Recap 24 to 30 November 2021

Market Recap 24 to 30 November 2021

In the local market this week, the NSX Local index was down 0.07% at 537.7, and the NSX Overall Index was down 4.61% at 1441.1. As at 30 November 2021, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 10.3 billion, followed by FirstRand Namibia Limited with N$ 7.9 billion, Capricorn Group Limited with N$ 6.8 billion and Mobile Telecommunications Limited with N$ 6.6 billion. Trustco Group Holdings Limited lead the market this week, closing at N$ 1.79 per share after growth of 11.9%. In terms of volume Namibia Breweries lead the market with N$ 1.7 million worth of shares traded, with FirstRand Namibia Limited in second place with N$ 0.8 million worth of shares traded. The local currency lost 0.34% against the US Dollar, to close at N$ 15.88 per USD, and gained 0.24% against the British Pound, to close at N$ 21.11 per GBP. It closed at N$ 21.11 against the Euro, a loss of 1.15%.

 

Alpha Namibia Industries Renewable Power Limited released their half-year financial statements for the six months ended 31 August 2021, revealing that revenue increased by 336% to N$ 87.2 million for the six months compared to the previous year’s comparable six month period. Similarly, they reported profit for the period of N$ 2.7 million compared to a loss of N$ 2.4 million in the comparable period. This resulted in Basic and Headline Earnings per share to increase from a 15c per share loss to 16c per share earnings, with its net asset value per share increasing by 3% to N$ 10.14 per share. They noted that the strong revenue is the result of a N$ 317 million 20MW solar power project being constructed for NamPower, which generated N$ 64 million in revenue. They note that gross profit has a lower margin due to the effects of COVID-19, as it put upward pressure on the prices of solar power plant components, including panels, copper, steel and shipping costs.

Related posts