Capricorn's profit before tax increases

Local financial services group, Capricorn Investment Holdings Limited said this week in financial results for the year ended 30 June 2006 that operating profit before tax increased by 5% to N$254.3 million. Capricorn has interests in banking, insurance, asset management and microfinance with Bank Windhoek being its flagship brand in Namibia.

Capricorn said in an email statement that Bank Windhoek was the biggest contributor with a profit before tax of N$195.6 million, whilst results of foreign operations and share of associated company results amounted to N$20.6 million and N$20.1 million respectively. The group’s balance sheet strengthened significantly with group total assets growing by 26% to N$7.942 billion. Total shareholders equity was N$896 million at 30 June 2006.