Brian Joffe’s Long4Life has invested half of its war chest
The company reported interim revenue of R1.5bn and net profit of R147m, after generating no revenue in the first half of its first year on the JSE
Brian Joffe’s investment holding company Long4Life graduated from “a work in progress” to an owner of a portfolio of companies during the first half of its second financial year. Long4Life has invested half of the R2bn cash it held at September 30 2017, its interim results released on Wednesday morning showed. Regarding the remaining R1bn, Joffe said further acquisitions are “continually being assessed and anticipated to lead to the addition of exciting new opportunities”. From generating no revenue in the first half of its first year on the JSE, Long4Life reported interim revenue of R1.5bn and net profit of R147m in the six months to end-August. The group changed its financial year-end to February from March following its acquisition of Holdsport, and Wednesday’s results compared the six months to end-August 2018 to the six months to end-September 2017. Holdsport — which owns retail chains Sportsmans Warehouse and Outdoor Warehouse — contributed 60% of the group’s revenue and 64% o...
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