The article, 'Nictus expects profit plunge', in yesterday's Market Watch was based on incorrect information released by the Namibian Stock Exchange (NSX). The correct trading statement of Nictus Holdings-Nam states:
“Nictus' shareholders are advised that the group's earnings per share for the six months ended 30 September 2018 is expected to be a profit of between 2.72 and 3.50 cents per share which is between 10% and 30% lower than the previous corresponding period's earnings of 3.89 cents per share.
“Traditionally, the majority of the group's earnings have been generated during the second half of the financial year and the expectation is that this trend will continue during this financial year. The opening of the new Peugeot and Opel assembly plant in Namibia is positive for the motor segment as increased focus would be placed on locally produced vehicles. The current economic environment is seen as the 'new normal' and our operational segments have been adjusting to be sustainable within this environment.
“Results of these adjustments can be seen in improved results for the retail segment and we believe that the gains will continue.”