A good catch
THIS BLACK-OWNED investment group said in a recent trading update that it expected significant growth in its earnings per share and headline earnings per share.
The company, which has interests in diverse sectors, is sitting on a pile of cash and could soon be on the lookout for the next acquisition.
A discussion has been underway for Brimstone to amalgamate its two fishing interests, Oceana and Sea Harvest, where it owns RBA HOLDINGS 16.84% and 58.10% respectively. This would further consolidate shareholder interest and minimise potential conflicts of interest. Brimstone CEO Mustaq Brey is also chairman of Oceana, which has acquired a significant stake in Lusitania – Sea Harvest’s biggest competitor in hake fishing. The stock is looking cheap at R14 trading on an earnings multiple of 4.47 and a divided yield of 1.39%.