Dual-listed Trustco Group's earnings are expected to show a considerable increase in the half-year to September.
The Namibian-based company says earnings for the six months should reflect an increase of between 35% and 55%, while headline earnings are expected to improve by between 45% and 65%. Revenue increased by between 20% and 30%, compared to the previous financial period.
As the company listed in February, the numbers are not directly comparable as it did not publish half-year results on the Stock Exchange News Service. However, in the year to March, the company reported revenue of N$390 million, from N$208 million the year before.
Headline earnings per share were 39.18 Namibian cents, up from 10.81 the year before. The Namibian dollar and the rand are interchangeable.
Growth plans
The group, which has more than 700 staff, focuses on micro finance and micro insurance through its subsidiary units. Its mobile division, Trustco Mobile, provides free life cover for mobile phone users in Namibia when they purchase airtime.
Trustco became the first African company to list on the JSE's new Africa board, on 19 February, by means of a dual primary listing. It listed to achieve better liquidity in trading of its shares, and access to capital for further expansion and acquisitions.
The group aims to grow its market capitalisation to R5 billion, from R403 million, in five years from when it listed.
Companies are required by JSE rules to alert shareholders when their results will differ by 20% or more from the previous period. Trustco did not indicate when its results would be published.
The company's share was untraded his morning at 57c a share. Its 52-week low is 55c a share.
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