Brait’s net asset value to decline by a quarter

23 May 2019 - 18:20Two months after angering some investors by committing additional resources to bail out an executive share ownership scheme, Brait said its net asset value per share would fall by about a quarter for the year ended March.

The announcement caused a sharp sell-off in the share price, falling more than 12% to close at R20.45 per share, its ​worst performance in five months. Brait’s share price was trading at a discount of about 50% to its expected NAV. The adjustments to multiples used for valuing health and lifestyle operator Virgin Active, Premier Foods and Iceland Foods are based on the company’s ongoing benchmarking of peers for each of the three.

The multiple applied to Virgin Active has reduced slightly while sharper decreases have been applied to that of Premier Foods and Iceland Foods .

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Brait’s net asset value plunges by about a quarterThe investment holding company is trading at a large discount despite the reduction
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: JSE slips as trade war weighs on risk assetsConcern that the US-China trade war will escalate before any resolution is found is weighing on global equities, with local banks leading the losses
Source: BDliveSA - 🏆 12. / 63 Read more »

MOTORING: Haval H6C 2.0T Luxury AT: More than just good valueChinese brand Haval is making rapid inroads into the highly competitive South African SUV market, thanks to models that not only represent strong value, but also perform in other areas. Are those Chinese takeaway jokes starting to ring a little hollow?
Source: dailymaverick - 🏆 3. / 84 Read more »

Fall in property values result in earnings slump for Tsogo SunAdjusted HEPS are expected to be between 3% and 7% lower than in the previous year
Source: BDliveSA - 🏆 12. / 63 Read more »