Investment holding company Brimstone says the acquisition of Obsidian Health is in line with Brimstone’s strategy of having control and increasing the portfolio of unlisted assets. Brimstone CEO, Mustaq Brey joins CNBC Africa for more.
Brimstone cut its losses by more than half for the interim period ended June. The majority owner of fishing enterprise Sea Harvest is on the recovery after a difficult year prior, operating profit came in at R178 million and they reported a headline loss per share of 64.1 cents. Brimstone CEO, Mustaq Brey joins CNBC Africa for more.
Brimstone financial year end results revealed a bitter sweet performance from the company. The company exceeded a R10 billion total asset value for the first time however the company’s equity market conditions led to a decline in it its overall profitability. The board were able to declare a dividend of 45 cents per share. Joining CNBC Africa for more is Mustaq Brey, CEO of Brimstone.
The JSE indices delivered negative returns in 2018 with the small cap mid cap unit trust sector declining by 10.6 per cent. However, Westbrooke Special Opportunities hedge fund delivered a return of 10.6 per cent. For more on the Westbrooke fund and the future of the small mid cap sector CNBC Africa is joined by Jarred Winer, Co-Founder Westbrooke Alternative Asset Management and Fund Manager of the Westbrooke Special Opportunities Fund.
Brimstone’s Mustaq Brey sees potential in education sector