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Higher earnings lead to jump in shares in Brian Joffe’s Long4Life

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Since listing in 2017, the group has bought Holdsport’s Sportsmans Warehouse, Outdoor Warehouse and Performance Brands, and Sorbet, Inhle Beverages and Chill Beverages

Shares in Brian Joffe’s investment group, Long4Life, reached their best level in three months after the company said annual earnings could rise by nearly a third.

The stock jumped 6.3% to R4.87 in early trade — the best level since January 22 — after Long4Life said headline earnings per share in the year ended February would increase by between 22% and 32%.Long4Life said it would publish its results on or about May 15. Since listing in 2017, the group has bought Holdsport’s Sportsmans Warehouse, Outdoor Warehouse and Performance Brands, as well as Sorbet, Inhle Beverages and Chill Beverages.

Joffe said in October 2018 that while the group was looking for more deals, valuations of target companies remained steep. He said at the time there was"no merit" in funding deals with equity because the group was trading at a steep discount to net asset value.At about 10am on Thursday, the stock was trading at R4.80 a share, a 4.8% increase on the day.

 

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