Brimstone expects an increase in headline earnings per share (HEPS) for the half-year to end-June, helped by profitability at Sea Harvest, Brimstone’s key food investment.
In a statement on Wednesday, the company said headline earnings per share were expected to rise 32%-42%, reaching 95.1-102.3c, compared with 71.9c previously.
The increase in earnings was mainly attributed to better profitability from Sea Harvest as well as a reduction in Brimstone’s finance and operating costs.
The company, which has interests in food, healthcare, financial services and property, reduced its debt by more than R500m earlier this year as part of efforts to strengthen its balance sheet.
The move followed the disposal of its stake in Stadio in late 2024 and forms part of a broader strategy to improve financial stability.
The company’s share price gained the most in five weeks, up 6.8% to R4.40.
Brimstone’s results for the half year are expected to be published on September 2.
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