Peregrine writes down investment in Java Capital as deals dry up

Peregrine Holdings, which owns private-client wealth manager Citadel, has written down the value of its investment in Java Capital by R100m as the corporate advisory house grapples with a slowdown in deal-flows in SA.

“Java Capital is exploring opportunities to expand its brand into different areas and is tailoring its cost base to take account of the current market environment,” it said. Peregrine said on Thursday it made a profit of R523m in the year to end-March, a 24% decrease from the previous year. Ongoing segmental headline earnings per share declined 7% to 152.9c “due to the significant drop in performance fees earned in Stenham and Peregrine Capital as well as earnings from Java Capital”.Amid general outflows from hedge funds, Peregrine Capital’s asset base reduced to R6.8bn from R7.4bn.

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.

$5.3 billion in foreign direct investment hits SAForeign direct investment (FDI) flows into South Africa more than doubled to $5.3 billion (R78.5 billion) last year largely due to renewable energy and automotive investments from China, Germany and Japan.
Source: City_Press - 🏆 7. / 72 Read more »

High court orders Trillian Capital to repay R600m it took from Eskom | IOL Business ReportTrillian Capital on Tuesday suffered a major blow when the North Gauteng High Court ordered it to pay Eskom R600 million it illegally received. busrep As if the Court outcome do us a favour,we paid lawyers first and therefore ANC new brooms never dare think by clearing their harrowing mess is a favour done to SAns!
Source: IOL - 🏆 46. / 51 Read more »