The board of Imara Holdings Limited has declared a dividend of 5 thebe per share for the year ended 30th April 2014.
This dividend will be payable in cash to all shareholders registered in the books of the company as at 5th September 2014. In terms of the Botswana Income Tax Act (Chapter 50:01) as amended, tax will be deducted where applicable from the gross dividend payable to shareholders.
The dividend comes after the group posted impressive results for the first time since 2008. The company posted profit after tax of P16.08 million which is an improvement on the P1.50 million loss for the previous year.
This year’s results according to Stock Brokers Botswana (SBB) analysts Tshepo Setlhare were improved by the company’s asset management division.
Setlhare observed that the results are particularly pleasing because the group’s business environment has been sluggish and had not changed.
He said, “African capital markets remain highly influenced by global economic adversity and uncertainty, although there are some recent indicators to suggest perhaps a slight recovery.”
Mark Tunmer, the Group Chief Executive Officer said Imara’s total assets amounting to P344.22 million reflect a 36% increase from last year.
Setlhare said the increase is largely attributable to stock broking activities and more specifically to the cut off dates for accounting and reporting purposes, which impact directly on “due to” and “due from” brokerage positions.
This is illustrated by the increase in trade and other receivables which have increased from P134.35 million to P224.74 million, and in trade and other payables which have increased from P105.10 million to P186.36 million.
The division also registered growth in new markets in Zambia and Mauritius and FUM increased by almost 25% to close the year at P5.3 billion.
Imara Edwards Securities in Zimbabwe reported excellent results despite a challenging Zimbabwean market and the Botswana stockbroker Imara Capital Securities returned to profitability after a disappointing 2013.
The Africa Desk of Imara SP Reid, contributed strongly to earnings, and leveraging of its infrastructure and technology investment over the past two years, is well positioned to make a greater contribution to future earnings.