Chamwe Kaira
Nictus Holdings is entering an expansion phase that will require investment in new projects and capital across its subsidiaries. These include Auas Motors, Nictus Furniture, Build It, and Tiger Wheel & Tyre.
The board said it has reviewed the group’s performance, future capital needs, and growth plans, and recognised that the company is entering a new phase of expansion.
“To support these opportunities and ensure sustainable shareholder value creation, the board has resolved to retain a portion of the current year’s earnings. This approach balances shareholder returns with the need to maintain financial flexibility for the group’s strategic growth priorities,” the company announced.
Nictus said it remains confident that these investments will strengthen its earnings capacity and operational capability, positioning the group for long-term growth.
A final dividend of 25 cents per share, amounting to N$13.4 million, was approved by the board on 18 September for the year ended 30 June.
“The dividend will be declared out of retained earnings. The dividend has not been provided for, and there are no accounting implications for the current financial year,” the company said.
The financial year ending 30 June marked significant growth across all segments, supported by profits from operations.
“Numerous growth strategies are progressing as expected and are performing well. We envisage further growth and diversification, particularly in the property and retail segments in the years ahead, and we are excited about the synergies and opportunities that will be created,” Nictus said.
Despite a slight drop in profit, the retail segment surpassed the N$1 billion turnover mark, driven by the tyre, furniture, and automotive businesses.
The decline in profit was linked to the acquisition of new ventures in the information technology, car rental, and building industries.
“As is often the case with new acquisitions, these businesses are still in their development phase; however, their growth to date indicates that they will deliver exceptional results once they reach maturity,” the company said.
Among the new acquisitions is AST Business Solutions (Pty) Ltd, established to provide call centre, vehicle tracking, and customer relationship management services to companies within the Nictus Group. These services will later extend to external clients.
In June, Nictus acquired Cicada Investments (Pty) Ltd for N$12 million. The company’s sole asset was a property. Nictus also bought 100% of Bou Dit Hardware, which absorbed the assets of Atlantic Hardware CC.
The acquisition allowed Nictus to access the Build It franchise previously held by the close corporation.
The property segment maintained stable performance during the financial year.
Nictus said one of its goals is to operate from properties it owns.
“To that end, we have committed to substantial property investments that will be realised within the next 24 months,” the company said.
The insurance and finance segment also recorded strong results, with significant growth in premiums.
“The strength of our insurance products is built on the solid foundation we have laid, enabling us to sustain growth, even in adverse economic conditions,” Nictus said.
Caption
Auas Motors is one of Nictus Holdings’ subsidiaries.
- Photo: Auas Motors
