Vunani diversifying away from volatile sectors that hammered its profit
The share jumps more than 16% after CEO Ethan Dube’s explanation and future plans
Diversified financial services group Vunani says it is diversifying away from the volatile sectors that caused its after-tax profit to plunge by 35% in the six months to August.
CEO Ethan Dube said the company was reviewing whether it should keep its securities broking business as it continued to report losses. Its commodities trading business, which was largely responsible for an overall 35% reduction in profit, will “increasingly become smaller”, he added.