Brait’s net asset value increases

Johannesburg - Investment group BRAIT SE (BAT) has reported a 7.3% rise in net asset value (NAV) to R24.70 per share in the three months to December 2012‚ from R23.01 per share in the preceding period.

Total NAV for the group increased by R856 million in the review period to R12.480 billion from R11.624 billion in the September quarter.

NAV per share in the 12 months to December increased by 28.6% to R24.70 from R19.21 per share a yea ago.

The group’s three main investments - Pepkor‚ Premier Foods and Iceland Foods - continued to “trade well”‚ resulting in carrying values for the quarter under review increasing by 10%.5% and 11% respectively‚ the company said‚ adding that the balance of its portfolio was also performing to expectations‚ it said.

“The group is in a net cash position and has R2.8 billion in cash and undrawn facilities available for new investments‚” it said. - I-Net Bridge