Author Archives: IJGResearch

Oryx Properties Limited Trading Statement – FY15

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In compliance with the Namibian Stock Exchange (‘NSX’) Listings Requirements, Oryx Properties Limited unitholders are advised that the total comprehensive income for the year ended 30 June 2015 will be substantially higher (greater than a 30%) and the net asset value (‘NAV’) per linked unit as at 30 June 2015 will be materially higher (between 10% and 30%) in relation to the comparative period. The positive fair value adjustment   to   the  investment   property   portfolio,   as  determined by an independent valuer, is the main reason for the increase in the total comprehensive income and net asset value per linked unit.

The interest distribution will remain unaffected as the changes in fair value of investment properties are unrealised gains, which are transferred to non-distributable reserves.

This trading statement has not been reviewed or reported on by Oryx’s external auditors. The release of the announcement of the reviewed results for the year ended 30 June 2015 is expected to be published on or about 24 August 2015.

New Vehicle Sales – July 2015

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A total of 1,933 new vehicles were sold in Namibia during July. New vehicle sales increased by 1.1% year on year, and increased 4% on a year to date basis, to a total of 12,936. This figure keeps Namibia on track for a record year of new vehicle sales. The 12-month cumulative measure of new vehicles sold increased slightly from 22,434 in June to 22,455 in July.

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Passenger vehicle sales fell by 13.7% month on month, from 906 in June to 782 in July. June’s sales figure was the third-highest passenger vehicle sales month of all time in Namibia. On a year to date basis, sales of new passenger vehicles grew by 2.5% to 5,768, which is the highest figure on record. Year on year sales fell by 4.5%.

Commercial vehicle sales increased by an impressive 22.6% month on month to 1,151 vehicles sold, continuing after an increase of 8.3% last month. The total number of new commercial vehicles sold this year increased by 5.3% to 7,168, on track for the best-selling year on record. Sales of light commercial vehicles increased by 18.3% month to month and 4.3% year on year, rebounding after a fall of 15% year on year last month. Medium commercial vehicle sales rose by 45.8% month on month, yet decreased by 34% year on year, and heavy commercial vehicle sales rose by 84.3% month on month and 56.7% year on year. Sales of light, medium and heavy commercial vehicles are all on track for recording-breaking years, according to year to date figures.

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The Bottom Line

Current year to date vehicle sales are at record levels for all categories measured. This is a sign of positive consumer sentiment and indicative of a growing economy. A strong consumer base supported by expansionary fiscal policy and real wage growth should see this growth trend continue, although at a slower pace due to an elevated base set last year.