HOUSE VIEW

A good catch

Finweek English Edition - - INVESTMENT - TANDISIZWE MAHLUTSHANA

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%.

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