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Bank Windhoek Profit Up 30 Percent

January 28, 2014

Chamwe Kaira

BANK Windhoek Holdings expects profit after tax for the six months ended 31 December 2013 to increase between 25% and 30% on the comparable period in the prior year, the company announced in a trading statement on the Namibian Stock Exchange yesterday. The company listed on the exchange last year with much fanfare. "BWH anticipates a year on year increase in headline earnings per share (HEPS) and basic earnings per share (EPS) for the period ended 31 December 2013 to range between 10% and 12% and between 13% and 18% respectively," the company said. Bank Windhoek said the differences between the increases in profit after tax, HEPS and EPS are due to the dilution effect of the 41 280 000 ordinary shares issued as part of the listing of BWH in June last year and the 7 400 000 ordinary shares issued by BWH relating to the acquisition of Capricorn Unit Trust Management Company Limited on 1 July last year. Black economic empowerment groups were allocated 375 000 shares while staff members of the bank were also allocated 375 000 shares. Other retail investors were allocated 175 000 shares. Namibian Institutions were allocated 11 million shares, while foreign institutions were also allocated 11 million shares.

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Source: AllAfrica

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