Nictus posts N$1bn-plus revenue, declares 25c dividend
Nictus Holdings reported revenue of N$1.08 billion for the year ended 30 June 2025, up 7% from N$1 billion in the prior year. The group recorded a profit of N$58.9 million, while total comprehensive income stood at N$77.9 million after property revaluations.
Basic earnings per share rose to 110.12 cents from 106.79 cents, while net asset value per share increased to 637.63 cents from 526.51 cents. Cash and cash equivalents stood at N$1.04 billion, up from N$786.5 million.
A breakdown of revenue showed external contributions of N$985.2 million from retail, N$87.7 million from insurance and finance, and N$2.3 million from properties.
The board approved a final dividend of 25 cents per share (N$13.4 million) on 18 September 2025, payable on 3 November 2025. The dividend will be declared out of retained earnings.
“The past year marked exceptional growth and expansion within every segment, financed through profitability from our operations. Numerous growth strategies are progressing as expected and are performing well,” Nictus said.
“We envisage further growth and diversification, particularly in the property and retail segments in the years ahead, and we are excited about the synergies and opportunities that will be created.”
Despite a slight decline in profit, the retail segment exceeded the N$1 billion turnover milestone with segment revenue of N$1.02 billion, supported by established tyre, furniture and automotive businesses. Segment results dropped to N$13.8 million from N$20 million.
New ventures
“Although profit declined, this is directly linked to the acquisition of new ventures in the information technology, car rental and building industries. As is often the case with new acquisitions, these businesses are still in their development phase; however, their growth to date indicates that they will deliver exceptional results once they reach maturity,” the group stated.
On 12 September 2024, Nictus acquired Bou Dit Hardware, which subsequently purchased the net assets of Atlantic Hardware CC for N$4.8 million. From acquisition to year-end, Bou Dit Hardware contributed revenue of N$34.5 million and a loss of N$350,000.
The insurance and finance segment achieved record results with segment revenue of N$149.5 million, up 20% from N$124.2 million. Segment results surged to N$50.8 million from N$42.7 million. “The insurance and finance segment achieved record highs, with exponential growth in premiums, for which we are truly grateful. The strength of our insurance products is built on the solid foundation we have laid, enabling us to sustain growth even in adverse economic conditions. We are also pleased to report that the strong performance of our financial division exceeded expectations,” the company said.
The property division delivered stable results with segment revenue of N$33.3 million, up from N$29.2 million. Segment results improved to N$13 million from N$4.4 million.
Aspirations
“As a group, one of our strategic aspirations is to remain in control of our destiny. By operating from properties we own, we can realise this goal. To that end, we have committed to substantial property investments that will be realised within the next 24 months,” Nictus stated.
On capital allocation, the board said: “The board has carefully reviewed the group’s performance, future capital requirements, and growth strategy, recognising that we are entering an expansion phase requiring investment in new projects and capital across our subsidiaries. This approach balances shareholder returns with the need to maintain financial flexibility for the Group’s strategic growth priorities.”
Total assets increased to N$2.62 billion from N$2.08 billion, while total equity strengthened to N$340.8 million from N$281.4 million. Operating profit remained steady at N$76.1 million.
The group also expanded into Botswana during the year, reporting a net loss of N$87 000 from the new operations.
Basic earnings per share rose to 110.12 cents from 106.79 cents, while net asset value per share increased to 637.63 cents from 526.51 cents. Cash and cash equivalents stood at N$1.04 billion, up from N$786.5 million.
A breakdown of revenue showed external contributions of N$985.2 million from retail, N$87.7 million from insurance and finance, and N$2.3 million from properties.
The board approved a final dividend of 25 cents per share (N$13.4 million) on 18 September 2025, payable on 3 November 2025. The dividend will be declared out of retained earnings.
“The past year marked exceptional growth and expansion within every segment, financed through profitability from our operations. Numerous growth strategies are progressing as expected and are performing well,” Nictus said.
“We envisage further growth and diversification, particularly in the property and retail segments in the years ahead, and we are excited about the synergies and opportunities that will be created.”
Despite a slight decline in profit, the retail segment exceeded the N$1 billion turnover milestone with segment revenue of N$1.02 billion, supported by established tyre, furniture and automotive businesses. Segment results dropped to N$13.8 million from N$20 million.
New ventures
“Although profit declined, this is directly linked to the acquisition of new ventures in the information technology, car rental and building industries. As is often the case with new acquisitions, these businesses are still in their development phase; however, their growth to date indicates that they will deliver exceptional results once they reach maturity,” the group stated.
On 12 September 2024, Nictus acquired Bou Dit Hardware, which subsequently purchased the net assets of Atlantic Hardware CC for N$4.8 million. From acquisition to year-end, Bou Dit Hardware contributed revenue of N$34.5 million and a loss of N$350,000.
The insurance and finance segment achieved record results with segment revenue of N$149.5 million, up 20% from N$124.2 million. Segment results surged to N$50.8 million from N$42.7 million. “The insurance and finance segment achieved record highs, with exponential growth in premiums, for which we are truly grateful. The strength of our insurance products is built on the solid foundation we have laid, enabling us to sustain growth even in adverse economic conditions. We are also pleased to report that the strong performance of our financial division exceeded expectations,” the company said.
The property division delivered stable results with segment revenue of N$33.3 million, up from N$29.2 million. Segment results improved to N$13 million from N$4.4 million.
Aspirations
“As a group, one of our strategic aspirations is to remain in control of our destiny. By operating from properties we own, we can realise this goal. To that end, we have committed to substantial property investments that will be realised within the next 24 months,” Nictus stated.
On capital allocation, the board said: “The board has carefully reviewed the group’s performance, future capital requirements, and growth strategy, recognising that we are entering an expansion phase requiring investment in new projects and capital across our subsidiaries. This approach balances shareholder returns with the need to maintain financial flexibility for the Group’s strategic growth priorities.”
Total assets increased to N$2.62 billion from N$2.08 billion, while total equity strengthened to N$340.8 million from N$281.4 million. Operating profit remained steady at N$76.1 million.
The group also expanded into Botswana during the year, reporting a net loss of N$87 000 from the new operations.
