When a company trades at almost half its net asset value (NAV), a low single historical p:e and an almost 8% dividend yield, it should warrant a look. This applies doubly so if it has been a dependable profit producer and cash-flow generator for more than three decades.

Such a company is Nu-World Holdings. It recently released its full-year results for the year ended August 2020, which illustrated a challenging year with revenue declining 13.3% to R2.6bn and headline earnings dropping 16% to 635c a share. But can the latest set of results and future prospects justify a roughly 26.5% drop in share price this year?..

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