• NWK Lojaliteit
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Financial results

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"The unfavourable prospects mentioned in the previous annual report had in fact realised. The severe drought in the North West Province, the weak economic conditions, fierce competition in certain market segments and the underperformance of some subsidiaries and Africa businesses severely harmed the group’s profitability.

Nevertheless some segments, like grain, trade and financial services, perform ed satisfactorily. NWK is still focusing on balance sheet management to fund the growth strategy and to support the current operations without placing cashflows under pressure.

The results reflect earnings on equity of only 4,7% compared wit h the previous year’s earnings of 12,3%. The net asset value increased by 22,1 cents to 983,8 cents. Share prices declined in the past year due to an oversupply of shares in a market with limited buyers. Management and the board of directors are constantly exploring opportunities to unlock more value for shareholders."
Danie Marais, managing director of NWK

 

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