Long4Life’s share price fell as much as 11% to R5.12 on Wednesday morning after it issued a trading statement indicating the results of its first financial year on the JSE will underwhelm investors. Long4Life, which listed on April 1 2017, said it expected to report on May 9 that its headline earnings per share (HEPS) for the 11 months to end-February were between 28c and 31c. The company raised R2bn on its JSE debut and has been on an acquisitions trail. At the presentation of its maiden interim results in October, Long4Life, which is headed by former Bidvest founder and CEO Brian Joffe, said it was in a position for bigger deals, but would be "aggressive [but] prudent". At the time, it had about R2.5bn for acquisitions, comprising R1.6bn in cash with the option of using its growing asset base as security for debt. The financial results for the 11 months will include only four months of trading from its acquired companies, Holdsport, Sorbet and Inhle Beverages. The acquisition of W...

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