Nictus profit up 19%, but tax cut does the heavy lifting

Nictus Holdings has lifted annual profit by 19% to N$70 million for the year to 30 June 2026, although a much lower tax charge accounts for the rise.

Profit for the year compared with N$58.9 million a year earlier. Operating profit fell 3% to N$73.5 million and pre-tax profit declined 4% to N$71.3 million. The group's tax charge dropped to N$1.3 million from N$15.2 million.

The insurance and finance segment was the strongest performer, with profit up 27% to N$64.6 million. Retail profit fell to N$4.8 million from N$13.8 million, and property profit dropped to N$1.7 million from N$13 million.

Nictus is investing heavily in both businesses. Spending on property, plant and equipment more than doubled to N$124.8 million from N$56.3 million.

Directors said the investments "may affect profitability in the short-term" but that they were confident the commitments would "bear fruit in the years to come".

Cash and cash equivalents rose 31% to N$1.36 billion, and net asset value per share increased 17% to 743.26 cents.

The board approved a final dividend of 35 cents a share, payable on 2 November.

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