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Nictus interim headline earnings/share up 73%

2 Dec 2008

Furniture, motor and carpet retailer Nictus today posted a 73% rise to 3.99 cents in headline earnings per share for the interim period to September. No interim dividend was declared.

Revenue rose 37% to R167 million and operating profit rose to R2.7 million from R885,000.

"The recent downturn in the South African economy did not have the same impact on the Namibian operations, and management expects this trend to continue for the foreseeable future," the group said.

Looking ahead, the group said the slowdown in the world economy could negatively affect the business, but it has implemented certain strategies to soften the blows.

"Historically the majority of the groups earnings are earned in the second part of the financial year, and the board is positive that the same will apply in the current financial year," it said.

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