Namibia: Paratus Signals Better Results for 2020

September 22nd 2020

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LISTED information and technology holding company Paratus Namibia Holdings Limited has announced that their 2020 financial year is expected to yield a 30% increase in earnings.

This, it says, is mainly due to the increase in the profitability of its main subsidiary, Paratus Telecommunications, which rests on the back of revenue growth and improved operating margins.

Technology companies this year performed better than most sectors across the board, and were minimally affected by Covid-19 restrictions, so it is not surprising for Paratus to yield such results.

In a trading update made by the company last week on the Namibia Stock Exchange news platform, Paratus Holdings said shareholders should anticipate the 30 June 2020 year-end results to be substantially higher than last year.

The company said basic earnings and headline per ordinary share, as well as profit for the period are anticipated to be more than 30% compared to 28 February 2019.

This is because the results now cover a longer financial period of 16 months, and because of the increased shareholding in Paratus Telecommunications to 100%, which will in consequence also increase the compnay’s profit share.

The Capricorn Group is the significant shareholder of Paratus Holdings, formerly Nimbus Infrastructure Limited.

Read the original article on Namibian.

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