FirstRand Namibia reports profit growth of 2%

FirstRand Namibia has reported a profit of nearly N$1.09 billion for the financial year ended 30 June 2019, an increase of N$25 million of 2.4% compared to its 2018 book-year.
Basic earnings per share (EPS) rose by 11.8c or nearly 3% to 409.9c. Headline earnings per share (HEPS) of 409.9c also grew by 3%. HEPS is the most widely watched profit gauge and strips out certain one-off items.
“For the year 2018/19, FirstRand Namibia reported satisfactory growth according to expectations and maintained its return profile in line with the group’s long-term targets - despite a very difficult economic market, exacerbated by the worst drought conditions in many years,” FirstRand Namibia CEO Sarel van Zyl says in the group’s latest integrated annual report.
Read the full story Monday in Market Watch.