Grand Parade Investments (GPI), the empowered investment holding company with interests in food and gaming, plans to continue selling assets in an attempt to narrow the discount between the holding company’s market value and the intrinsic net asset value (NAV) of its underlying investments. 

The next investment destined for the chopping block appears to be Mac Brothers, the wholly owned manufacturer of catering, medical and laboratory equipment, which posted an after-tax net loss of R83.2m in the 12-months to end-June 2020, and just more than R6m in after-tax losses in the half-year to end-December. In its interim results presentation on Friday, GPI said it plans to improve Mac Brothers’ profitability and investigate an exit from the business it has held since 2014. ..

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