Brimstone Investment Corporation: Navigating economic challenges with resilience

BRIMSTONE Investment Corporation's headline earnings a share increased by 35% in the year to June 30 from R295.7m, boosted by the 127% increase in the contribution of Sea Harvest and mixed performances from its other investments.

- EDWARD WEST

Headline earnings a share came to 96.9 cents, an increase also attributed to lower finance costs and lower operating costs. Sea Harvest's contribution to attributable profit increased to R174.2m. Brimstone repurchased 1 548 356 shares through the year for R7.2m.

“Despite a turbulent global and domestic economic environment, Brimstone delivered a strong performance, with attributable profit improving to R252.1m, compared to a loss of R295.7m in the prior period, driven primarily by Sea Harvest,’ said CEO Mustaq Brey.

“Brimstone is 30 years old and has come a long way as a predominant broad-based BEE company.

“Over the years, the group has weathered multiple global and domestic economic cycles, maintaining a long-term investment approach. Brimstone has consistently acted not only as a shareholder but also as a strategic partner to its investee companies,’ he said.