Argent’s silver lining for shareholders
Steel-based manufacturer’s overseas ventures boost profits
21 July 2022 - 05:00
Argent Industrial, which can broadly be described as a steel-based manufacturer, has over the past five years given a master class in the art of unlocking value without sacrificing profit growth.
Five years back, Argent stated its tangible NAV at R11.35 a share, compared with a share price that ranged between 356c and 520c. That means the market placed a discount of between 64% and 68% on Argent — a business that had been perennially profitable and paid regular dividends...
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