Profit Soars: Nictus Limited’s Financial Revival Marks a Pivotal Turn

  • Financial Turnaround: Nictus Limited reports a remarkable profit of R3.7 million, reversing the previous year's loss of R0.4 million.
  • Earnings Per Share: Positive shifts in basic and headline earnings per share, with 6.93 cents and 6.94 cents respectively.
  • Dividend Declaration: No interim dividend, but a final gross cash dividend of 5.00 cents declared and paid in 2023.
By Lethabo Ntsoane

Nictus Limited, a prominent entity in the South African business landscape, has released its condensed consolidated interim financial statements for the six months ended 30 September 2023. The company has reported a remarkable financial turnaround, marked by a notable increase in profit and positive earnings per share (EPS).

Financial Success Highlights

1. Profit Surge

  • In a significant shift from the previous year, Nictus Limited reported a profit of R3.7 million for the six months ended September 2023, contrasting with a loss of R0.4 million during the same period in 2022.

2. Earnings Per Share (EPS) Growth

  • Basic earnings per share witnessed a substantial improvement, reaching 6.93 cents, in stark contrast to the basic loss per share of 0.71 cents reported in 2022.
  • Headline earnings per share also demonstrated a positive shift, standing at 6.94 cents, compared to a headline loss per share of 0.82 cents in the previous year.

3. IFRS 17 Impact

  • The comparative information has been restated for the initial application of IFRS 17, providing a transparent view of the financial performance.

Dividend Declaration and Payment

  • Despite not declaring an interim dividend for the current or comparative prior period, Nictus Limited declared a final gross cash dividend of 5.00 cents per ordinary share for the fiscal year ending 31 March 2023. This dividend was announced on June 30, 2023, and paid to all ordinary shareholders recorded in the share register on July 21, 2023.

Full Results Access

  • While the condensed consolidated interim financial statements have not undergone auditing or review by the Group’s auditor, the complete set of results, including detailed disclosures, is available on the company’s website and can be accessed via the JSE cloudlink.

Conclusion

Nictus Limited’s impressive financial turnaround, as reflected in the interim financial results for the six months ended September 2023, underscores the company’s resilience and strategic management. Shareholders and industry observers are encouraged to delve into the detailed financial statements to gain a comprehensive understanding of Nictus Limited’s performance.

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Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo