…as other key highlights include N$144.7 profit after tax up from N$13.3m
Namib Desert Diamond (Pty) Ltd (NAMDIA) has released its audited Annual Report for the 2021/22 financial year subsequently declaring a dividend of N$150 million to its shareholder, the government.
After two particularly challenging years shaped by the COVID-19 pandemic, the remarkable recovery of the diamond industry came as a welcome relief, the company said today.
The reporting period saw NAMDIA continuing to improve operational efficiency and refine business strategy in order to remain relevant to customers and the shareholder.
Essentially, profit after tax amounted to N$144.7 million, compared to N$13.3 million the previous year.
Full key statistics:
- N$ 150 million dividend declared to the Shareholder, the Government of the Republic of Namibia.
- Profit after tax amounted to N$144.7 million, compared to N$13.3 million the previous year.
- 10 Sales conducted in 2021/2022 financial year.
- In line with the recovery in the industry, NAMDIA margins improved to 7.0 percent above the 100 percent SSV during the period.
- NAMDIA purchase volumes totaled 222,978 carats, an increase of 53.8 percent compared to the previous year.
- Sales revenue increased by 78.7 percent to US$128 million.
- The buying average carat price was US$536.55 compared to the selling average carat price of US$574.21.
- 36 New Clients Selected for 2022/2023 – 2025/2026.
- N$218 million Profit before tax for 2021/2022 financial year.
- N$40 million Dividend paid to shareholder on 05 November 2021 based on 2020/2021 financial year. · N$ 244,840 invested in staff training and development.
- NAMDIA is in a very sound financial position, with cash reserves amounting to N$395 million at year end. Reserves are maintained for future expansion of activities and as required collateral for banking facilities in the absence of a Government guarantee.
- NAMDIA purchases its 15 percent entitlement from Namibia Diamond Trading Company (NDTC) using a revolving overdraft facility which settles upon the sale of goods. The US Dollar banking facility with RMB Namibia was renewed in December 2021 at US$27 million and is secured by collateral of a 12-month Fixed Deposit placed with RMB for N$145 million. The facility incurs interest at a credit margin above LIBOR.