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General information

Sector: Financials

The company is not available at Interactive Brokers

Brimstone Investment Corporation (JSE:BRT) is a black controlled and managed investment company. Brimstone seeks to achieve above average returns for shareholders by investing in wealth creating businesses and entering into strategic alliances to which it contributes capital, innovative ideas, management expertise, impeccable empowerment credentials and a values driven corporate identity.

Strategic focus

Brimstone is well capitalised, has access to further capital and has the team and experience to pursue value enhancing transactions. Brimstone takes a long term view on its investments and will continue to focus on the food, healthcare and financial services sectors while carefully considering other sectors.

Dividend flow from existing investments and a strong balance sheet allow Brimstone to fund future opportunities. The Company has a strong track record of delivering shareholder value and making consistent distributions to shareholders and is supported by an experienced team with proven deal-making ability.

Current investments include:

Aon Re Africa

Aon Re Africa is a leading reinsurance and retrocession intermediary in Sub Saharan Africa, based in Johannesburg, South Africa with a subsidiary office in Harare, Zimbabwe.

Equites

Equites Property Fund Limited is a leading South African property fund manager and developer, focused on high quality industrial assets at the top-end of the industrial property sector, with a selective exposure to office property.

House of Monatic

House of Monatic is involved in the design, marketing and manufacturing of mens and ladies clothing and accessories with C² Retail Stores.

Multichoice Phuthuma Nathi

Black owned investment company that holds 20% of Multichoice South Africa.

MTN Zakhele Futhi

Black owned investment company that holds approximately 4% of MTN Group.

Life Healthcare (JSE:LHC)

Life Healthcare's principal business is acute hospital care and comprises one of the widest geographic spreads of acute care hospitals and day surgical centres in South Africa with additional investments in India and Poland.

Oceana (JSE:OCE)

Oceana engages in the catching, processing and procurement of marine species including pilchard, sardine anchovy, redeye herring, lobster, horse mackerel, squid, tuna, hake and other deep sea species.

Obsidian Health

Obsidian Health is a leading supplier of innovative solutions to healthcare providers and clinicians within sub Saharan Africa which support improved patient care in a cost effective manner.

Sea Harvest (JSE:SHG)

Sea Harvest Group is a leading seafood, aquaculture, agri-processing and branded fast-moving consumer goods (FMCG) business with a global footprint.

FPG Property Fund

FPG Property Fund is a South African based privately held property investment and development company. With a 30 year history the fund covers all facets of the real-estate industry but primarily invests in the retail convenience sector across South Africa and offshore.



  • Good financial results growth rate 98.4% (average between last period year over year growth for revenue and Net Income), there is acceleration compared to average historical growth rates (0.6%)
  • Dividend yield for the last twelve months 0.0%
  • Share price is 60.7% higher than minimum and 42.4% lower than maximum for the last 3 years
  • The company is undervalued by P/E LTM multiple compared to target level (0.7x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials

Share price, ZAR:  (0.0%)4.90
Share price, USD: 0.2633
Common stocks: 39 873 469

Dividend Yield:  0.0%
P/E LTM: 0.7x
Last revenue growth (y/y):  -1.0%
Last growth of Net Income (y/y):  +197.8%
Historical revenue growth:  +10.2%
Historical growth of Net Income:  +109.3%
Target P/E (hist percentile):
Fundamental value created in LTM:
P/E mutiple calculation
Market Cap ($m): 10
Net Profit ($m): 14
P/E LTM: 0.7x
Price to Book: 0.04x

Revenue and Net Income

Semi-Annual values ($m)

Change (y/y)

Share price and dividends (Download history)

Share price

Payment ZAR per share

Multiple and potential

P / E

Potential dynamics

Reuters Headlines

S.Africa`s Brimstone quits Clover buyout after anti-Israel pressure

South Africa`s Brimstone Investment Corporation said it was pulling out of a proposed 4.8 billion rand ($345 million) buyout of dairy firm Clover Industries, amid opposition from an anti-Israel group.

2019-04-12

JSE:BRN JSE:BRT

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SENS Announcements

2024-04-24
A Proposed Specific Repurchase, Availability of Integrated Report, No Change Statement and Notice of AGM
2024-04-03
Dealing in Securities
2024-03-15
Dealings in Securities
2024-03-06
Notice of Financial Results Presentation
2024-03-06
Consolidated Financial Results for the year ended 31 December 2023 and Cash Dividend Declaration
2024-02-26
Results of General Meeting
2024-02-21
Trading Statement
2024-02-09
Disposal of a Majority Portion of Brimstone’s Investment in Equites Property Fund Limited
2024-02-09
CANCELLATION OF S485434 Disposal of a Majority Portion of Brimstone’s Investment in Equites Property Fund Limited
2024-02-09
Disposal of a Majority Portion of Brimstone’s Investment in Equites Property Fund Limited
2024-01-29
Disclosure of Beneficial Interest in Securities
2024-01-26
Distribution of Circular and Notice of General Meeting
2024-01-22
Proposed Acquisition by Sea Harvest, a Subsidiary of Brimstone, and Withdrawal of Cautionary Announcement
2024-01-02
Disposal of a portion of Brimstone’s investment in Phuthuma Nathi
2023-12-29
Disposal of investment in Milpark Education
2023-12-13
Cautionary Announcement
2023-12-01
Voluntary Quarterly Intrinsic Net Asset Value (“NAV”) disclosure
2023-10-31
Annual Compliance Report
2023-10-30
Disclosure of Beneficial Interest in Securities
2023-10-19
Dealing in Securities
2023-09-26
Dealings in Securities
2023-09-21
Dealings in securities
2023-09-18
Dealings in Securities
2023-09-06
Notice of Financial Results Presentation
2023-09-04
Unaudited interim results for the six months ended 30 June 2023
2023-08-08
Trading Statement
2023-06-22
Voluntary Quarterly Intrinsic Net Asset Value (“NAV”) disclosure
2023-06-21
Dealings in Securities
2023-06-12
Dealings in Securities
2023-06-05
Dealings in Securities
2023-06-02
Dealings in Securities
2023-05-29
Results of Annual General Meeting
2023-05-26
Dealings in Securities
2023-05-24
Dealings in Securities
2023-05-03
Dealing in Securities
2023-04-24
A Proposed Specific Repurchase, No Change Statement, Notice of Annual General Meeting and Annual Compliance Report
2023-04-13
Change to the Board
2023-04-06
Dealing in Securities
2023-03-08
Announcement regarding the Acquisition by Sea Harvest of a further 28% Equity Interest in Viking Aquaculture
2023-03-08
Notice of financial results presentation
2023-03-07
Consolidated financial results for the year ended 31 December 2022
2023-02-16
Trading statement
2022-12-29
Dealings in securities
2022-12-20
Dealings in securities
2022-12-14
Voluntary quarterly intrinsic Net Asset Value (“NAV”) disclosure
2022-10-19
Dealings in securities
2022-10-06
Dealing in securities
2022-08-30
Notice of financial results presentation
2022-08-30
Unaudited interim results for the six months ended 30 June 2022
2022-08-04
Trading statement
2022-06-29
Dealings in securities
2022-06-08
Dealing in securities
2022-05-30
Results of annual general meeting
2022-05-27
Voluntary Quarterly Intrinsic Net Asset Value disclosure
2022-05-24
Update on the acquisition by Sea Harvest of the Western Australia based fishing businesses of MG Kailis