Cape Town – Brait [JSE:BAT] expects its net asset value per share for the year ended March 31 to increase by 74% to 80% to between R134.19 and R138.82.
It announced on Tuesday that the strong operational performance from Brait's investment portfolio was one of the key reasons for this increase.
Additionally, it was also pushed up by the weakening rand, when translating Brait's pound denominated investments in New Look, Virgin Active and Iceland Foods into the group's rand presentation currency.
“Referencing the 31 March 2016 valuation multiples for the portfolio, with relevant discounts, to their peer group three year trailing average multiples in accordance with Brait's policy” also added to its increase.
Brait said the official 31 March 2016 financial results will be released around 14 June.
It was trading 1% weaker at R156.50 on the JSE at 10:00 on Tuesday, with a PE ratio of 2.02 and a dividends yield of 0.42%.