Brimstone more than doubles HY HEPS

Brimstone, a leading investment holding company, has made significant progress in reducing its debt and expanding its operations, according to CEO Mustaq Brey. In a recent interview with CNBC Africa, Brey discussed the company's financial performance and future outlook. Brey highlighted the company's efforts to repay its debt, with a total of R357 million paid back to funders in the first half of the year. He also mentioned plans to repay an additional R600 million by the end of next year. Brey emphasized the company's commitment to reducing debt and expressed optimism that these efforts would be recognized by the market, leading to a reduction in the discount on the company's share price. Additionally, Brey provided insights into the performance of Brimstone's fishing companies, noting challenges faced by SeaOwers in the first half of the year but highlighting positive developments in the industry. One key theme that emerged from the interview was Brimstone's focus on debt reduction and operational efficiency. Brey highlighted the company's strategy of repaying debt to strengthen its financial position and drive long-term growth. He also touched on the positive performance of the company's fishing subsidiaries, emphasizing the resilience of the food sector during challenging economic conditions. The interview also addressed market expectations regarding interest rate cuts and the impact on consumer spending. Brey expressed support for reducing interest rates to alleviate financial pressures on consumers and stimulate economic activity. Key points discussed in the interview include Brimstone's progress in debt repayment, the performance of its fishing companies, and market dynamics affecting the food industry. Brey provided insights into the factors influencing the company's financial results and outlined its strategic priorities for the future. As Brimstone continues to navigate market challenges and pursue growth opportunities, Brey remains optimistic about the company's prospects and its ability to deliver value to stakeholders. In summary, Brimstone CEO Mustaq Brey's interview with CNBC Africa highlighted the company's strong performance in debt reduction and operational resilience. Brey's emphasis on strategic debt repayment and market opportunities underscored Brimstone's commitment to long-term financial sustainability and growth. With a focus on building a robust portfolio of food assets and enhancing operational efficiency, Brimstone is poised for continued success in the evolving business landscape.