NVFH 2020 Integrated Annual Report

Chief
Executive
Officer’s
Report
Dear Stakeholders,
I am delighted
to report on the
performance
and affairs of the
NVest Group for
the past financial
year ended
29 February 2020.
COMMENTARY:
The 2020 financial year will go down as a particularly
challenging chapter in our history, but one which we
successfully navigated through as a Group of businesses to
achieve some noteworthy achievements.
The financial results scorecard for 2020 reflects respectable
numbers despite continued headwinds of local and
international market turbulence, increasing regulation and
intensifying competition. And those operating conditions
were challenging before the arrival of COVID-19 at the start
of 2020, which has proceeded to wreak devastation across
many communities and economies worldwide. The impact
of COVID-19 is still being felt in many countries, including
South Africa, on a variety of levels and it is clear that there
will be a “new normal” to emerge post the peak of the virus.
There are several yardsticks that can be applied to measure
our performance for the year that was. Two of those would
include a comparison of, firstly, this year’s financial results versus
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