Author Archives: IJGResearch

Bidvest Namibia Trading Statement

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Bidvest Namibia anticipates basic earnings per share (EPS) for the year ended June 30 2015 to be up between 17% and 19% on the previous corresponding period and headline earnings per share (HEPS) for the year ended June 30 2015 to be down between 10% and 12%.

The reason for the difference between the increase in EPS and the decline in HEPS is due to the capital profit realised on the sale of a fishing vessel. The decline in HEPS results primarily from the significantly lower horse mackerel quota allocation received by Namsov and its joint venture partners with the second quota allocation for the 2014 calendar year.

This trading statement has not been reviewed or reported on by Bidvest Namibia’s external auditors. The release of the announcement of the audited results for the year ended June 30 2015 is expected to be published on or about August 25 2015.

FNB Namibia Trading Statement

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TRADING STATEMENT IN RESPECT OF THE YEAR ENDED 30 JUNE 2015

In compliance with the Namibian Stock Exchange Listing Requirements, FNB Namibia Holdings Limited shareholders are advised that the group’s earnings for the year ended 30 June 2015 are expected to be materially higher than the comparative period by between 25% to 30%. Headline earnings and earnings per share for the year ended 30 June 2015 will be materially higher than the prior period by between 25% to 30%.

The group´s audited financial results will be released on or about 7 September 2015.

Building Plans – July 2015

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Picture1*June figures were used for plans completed

A total of 189 building plans valued at N$145 million were approved by the City of Windhoek in July 2015. On a year to date basis, 1,552 plans were approved with a value of N$1249.8 million, versus 1,679 plans valued at N$1505.8 million for the same period last year. This represents a 17% decrease in the value of plans approved on a year to date basis. This decrease is mainly due to base effects as three large commercial projectswere approved by the municipality in February 2014. On a month to date basis, the value of plans approved decreased by 13.2%, due to a fall in the value of approved commercial property and houses compared to June. The below chart illustrates the value of plans approved in July compared to previous months.

Picture2

The 12-month cumulative value of plans approved also fell from N$2057.2 million in June to N$2042.3 million this month, along with the cumulative number of plans approved, which fell from 2802 in June to 2719. These figures are presented in the charts below.

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In our view, the construction sector will remain one of the leading growth and development sectors for 2015 in the Namibian economy, with both private sector and government having aggressive development plans. However, since many of these plans occur outside the Windhoek municipal area, they are not captured in the monthly building plan statistics.