Namibia Asset Management Ltd Announces Consolidated Earnings Results for the Year Ended September 30, 2012; Recommends Normal Dividend, Payable on November 30, 2012
November 09, 2012
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Namibia Asset Management Ltd. announced consolidated earnings results for the year ended September 30, 2012. For the year, the company announced revenue of NAD 41,645,220 compared to NAD 45,474,540 for the same period a year ago. Operating profit was NAD 10,720,110 compared to NAD 6,615,341 for the same period a year ago. Profit before tax was NAD 11,446,886 compared to NAD 7,155,178 for the same period a year ago. Profit attributable to ordinary shareholders was NAD 7,694,190 or 4.60 cents per diluted share compared to NAD 4,774,295 or 2.86 cents per diluted share for the same period a year ago. Net cash flow from operating activities was NAD 1,744,640 compared to NAD 2,873,788 for the same period a year ago. Acquisition of equipment to maintain operations was NAD 61,519 compared to NAD 238,133 for the same period a year ago. Headline earnings were NAD 7,694,190 or 4.64 cents per basic share compared to NAD 4,770,979 or 2.88 cents per basic share for the same period a year ago.
The company's board recommended a normal dividend of 4 cents per ordinary share compared to 3 cents per ordinary share paid in the same period a year ago. Ex-dividend date is 19 November 2012, record date is 23 November 2012 and payment date is 30 November 2012.
Namibia Asset Management Limited is a Namibia-based asset management company. The Company manages investments for both institutional and retail clients. The Company operates through the asset management segment. The Company is engaged in providing both individual and institutional investors with a platform to build financial wealth. The Company manages institutional assets on behalf of a range of clients, including pension and provident funds, medical schemes, banking, and insurance groups. The Company has a range of funds (unit trusts) such as long-term growth funds, income and growth funds, and income funds. The Company's unit trust offerings include NAM Coronation Optimum Growth Fund, NAM Coronation Balanced Plus Fund, NAM Coronation Capital Plus Fund, NAM Coronation Balanced Defensive Fund, NAM Coronation Strategic Income Fund, and NAM Coronation Money Market Fund. The Company's wholly owned subsidiary is Namibia Unit Trust Managers Ltd.
Namibia Asset Management Ltd Announces Consolidated Earnings Results for the Year Ended September 30, 2012; Recommends Normal Dividend, Payable on November 30, 2012