Category Archives: Company Research

Company Research

Bidvest Namibia Trading Statement

By | | ,
Comments Off on Bidvest Namibia Trading Statement

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

By | | ,
Comments Off on FNB Namibia Trading Statement

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.

Bidvest Namibia acquires entire stake in Novel Motors for N$231.8 million

By | | ,
Comments Off on Bidvest Namibia acquires entire stake in Novel Motors for N$231.8 million

 

Shareholders are advised that Bidvest Namibia has, through wholly owned subsidiaries, acquired the entire issued share capital of International Capital Investments (Pty) Ltd, trading as Novel Motor Company (“Novel Motors”) and Lenkow (Pty) Ltd (which owns the Windhoek showroom and service centre premises from where Novel Motors operates) (“the acquisition”).

Rationale for the acquisition

The acquisition is seen as a continuation of Bidvest Namibia’s objective to broaden its business base and will strengthen the Commercial portfolio. Novel Motors operates two dealerships in Namibia and is the main representative of Ford and the sole representative of Jaguar Land Rover, Volvo and Mazda vehicles in Namibia. Novel Motors offers the sale of new and pre-owned vehicles, financing and insurance products, parts and accessories and after-sales service. It employs almost 200 people.

Consideration

Bidvest Namibia has acquired the shares for a total consideration of N$231.8 million, effective 31 July 2015. The consideration has been funded from internal cash resources.