Capricorn’s profit after tax jumps 14.8%

Jo-Maré Duddy – Locally-listed Capricorn Group, with Bank Windhoek as its flagship brand, today reported an operating income of more than N$1.29 billion for its 2021 financial year, down nearly 0.8% from its previous book-year.
Its total income for the year ended 30 June 2021, however, exceeded N$3.7 billion, an increase of about 6.4% year-on-year (y/y). Profit after tax of more than N$983 million was up nearly 14.8% y/y.
The group’s total comprehensive income fell by around 5.3% y/y to nearly N$877.5 million.
Capricorn’s headline earnings per share (HEPS), a profitability gauge, rose by 10.3% y/y to 173.4c. Earnings per share (EPS) increased by nearly 14.9% to 170.7c.
The group declared a final dividend of 38c per ordinary share. Considering the interim dividend of 22c per ordinary share, this represents a total dividend of 60c per ordinary share (2020: 50c).
“Despite the business being exposed to the direct and indirect impact of the Covid-19 pandemic on various levels, Capricorn Group showed tremendous resilience and performed much better than anticipated 12 months ago,” it said.
“I am pleased with the commendable performance of the group against all the odds,” said Capricorn’s group CEO, Thinus Prinsloo.
“We have a dynamic business model to create and preserve value while remaining true to our group’s purpose. The group has a real competitive strength in local decision-making, especially in the way it affects customers. This is our main driver for growing market share,” he added.
According to the group’s financial director, Jaco Esterhuyse: “Our results demonstrate how Capricorn Group used our advantage of being local, nimble, and responsive. We were able to preserve and grow value for our stakeholders even though Namibia’s economy was in a recession before the Covid-19 pandemic and had to deal with the economic and social shock brought about by Covid-19.”