Our opinion on the current state of NCS

Nictus (NCS) is a furniture and electrical appliance retailer with three stores in South Africa. It also sells short-term insurance through Corporate Guarantee. In its financials for the six months to 30th September 2023 the company reported revenue of R15m, down from the previous period's R16,6m and earnings per share (EPS) of 6,93c compared with a loss of 0,71c in the previous period. The company said, "We are fortunate to have a strong capital base to carry the group during times of uncertainty and adverse economic conditions. The group has no external debt financing." The enduring problem with this company is that its shares are far too thinly traded to be practical for private investors.