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.
Sverige Senaste nytt, Sverige Rubriker
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