Meagre profit growth for Letshego Namibia

Locally-listed Letshego Holdings Namibia reported a profit after tax of nearly N$353.4 million for the 12 months ended 31 December 2023 – 0.8% down from the previous financial year. Annual results released on the Namibian Stock Exchange (NSX) show a 2.1% drop year-on-year (y/y) in operating profit to N$383.1 million. Headline earnings per share (HEPS), a profitability gauge, amounted to 71c, a decrease of 0.8% y/y. Net asset value (NAV) per share dropped 1.5% y/y and came in at 549c. Letshego Holdings Namibia declared a dividend of 36.38c per share.