NVest results on a positive path

Headline earnings up 6.61% despite difficult climate

NVEST Financial Holdings results for the financial year ended February 28 make for positive reading.

The financial services group – headquartered in East London and run by CEO Anthony Godwin, with Jonathan Goldberg in the chairman seat – posted a strong set of results in challenging conditions.

The financial performance was highlighted by an overall increase in headline earnings (up by 6.61%) and net asset value (up by 7.14%).

Another positive indicator in the group’s results is that the total value of assets which the group manages and administers, grew by 14% over the last 12 months and now sits at just under R30-billion.

These results allowed the business to declare a dividend of 6 cents which contributed to a total dividend for the 2018 financial year of 11 cents. This represents year-on-year dividend growth of 6.8% from the prior year.

The group is also highly cashgenerative and has significant cash reserves at its disposal for further growth through investment and acquisitions.

NVest and NFB (the founding business within the group) has a relatively long history with very strong Eastern Cape roots. NFB Private Wealth Management originated in Port Elizabeth in 1985. East London was the next home territory for NFB and, over the years, NFB has grown into a diverse set of financial servicesrelated businesses under the NVest parent company – NVest Financial Holdings Limited.

The NVest Group now consists of 10 majority or wholly owned subsidiaries with offices in East London, Port Elizabeth, Cape Town and Gauteng, employing more than 150 people. This growth culminated in NVest listing on the Alternative Exchange of the JSE in 2015.

The core businesses include NFB Private Wealth Management, NFB Asset Management and NVest Securities (stockbroking) which are complemented by NFB Short-Term Insurance, NVest Properties and Independent Executor at Trust – an established wills and deceased estates practice.

Reflecting on the past financial year, Godwin, highlighted the importance of teamwork and building strong client relationships.

“Our business is centred on relationships and trust that have been nurtured over 33 years. These results are testimony to the collective hard work of our staff and employees across the businesses and to remaining relevant to clients and customers by providing the best possible service and product proposition”.

Godwin is also excited about the future prospects of the business, saying: “We have adjusted to the listed environment reasonably well and are now in a position to grow our earnings and to explore further growth. We have an experienced and settled leadership team and a very committed board whom I would like to thank for their valued insight and acumen.”

The board of directors also has a strong Eastern Cape flavour, chaired by local businessman Jonathan Goldberg and with Professor Lana Weldon and entrepreneur Siviwe Kwatsha making up the independent non-executive directorships. For more information, see

www.nvestholdings.co.za or www.nfb.co.za