Brimstone gains R76.2m in fair value after Sea Harvest disposal
Interim net asset value down 7%, while headline earnings soar 110%
27 August 2024 - 19:11
Brimstone Investments reported a drop in intrinsic net asset value (NAV) in its interim results after a corporate restructuring which deconsolidated its Sea Harvest subsidiary.
This takes Brimstone’s intrinsic NAV to almost R2.8bn — down 7% — bringing the number slightly closer to the company’s R1.26bn market valuation on the JSE. Revenue was down 39% from the previous comparable period...
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