Quinton van Rooyen

02 Mar

Trustco Group’s net asset value increases.

ObserverNational NewsInternational Financial Reporting Standards (IFRS 10), Quinton van Rooyen, Trustco Group’s net asset value increases.

Martin Endjala The Trustco Group Holding’s net asset value has increased by 362 percent to N$1,8 billion and the group’s after tax profit increased by 257 percent to a profit of N$1,4 billion as per the group’s latest financial results. Basic earnings per share increased by 268 percent to 145.89 cents compared to a loss per share of 86.66 cents last year. The group announced its 2022 financial year results yesterday, and has reported strong financial results for the 12 months ended 31 August 2022, along with its 30th consecutive unmodified audit report. The group has achieved a compounded annual…

Trustco plans to retrench 300

ObserverObserver MoneyNeville Basson, Quinton van Rooyen, Trustco

Staff Writer Trust Holdings (Trustco), a company majority owned by its billionaire Managing Director, Quinton van Rooyen is planning to retrench over 300 employees. Information gleaned by the Windhoek Observer shows the company has already started the process at its Morse Investment and Northern Namibia Development Company units , and has now also written to all its employees informing them of the management decision, which is being implemented as part of cost cutting measures. “Given the current circumstances, market conditions and probability that the global economy would deteriorate even further, the decision to retrench employees in several of the operating…