20%

BRIMSTONE BUMPS DIV­I­DEND

Finweek English Edition - - THE WEEK -

Em­pow­er­ment group Brimstone In­vest­ment Cor­po­ra­tion re­ported a 23% in­crease in its in­trin­sic net as­set value to R5.13bn, or R21.40 a share, in the year to end De­cem­ber. As a re­sult, the group in­creased its div­i­dend 20% to 42c a share, Busi­ness Day re­ported. Op­er­at­ing profit jumped by R273m thanks to im­proved re­sults from Lion of Africa, which cut its losses from R180m in the 2015 fi­nan­cial year to a loss of R15.4m; and a strong con­tri­bu­tion from Sea Har­vest, the news­pa­per said. Sea Har­vest is set to list sep­a­rately on the JSE in March. Brimstone also holds stakes in Oceana, Life Health­care and Grindrod.

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