DURBAN – JSE-listed investment holding company African Phoenix Investments said it expected its net asset value (NAV) an ordinary share to increase by between 68 and 78 percent for the year to end September.
African Phoenix Investments said in a trading update yesterday that it has adopted NAV an ordinary share as its key reporting measurement for trading statement purposes in terms of the listings requirements of the JSE.
The group’s NAV an ordinary share is expected to be between 87.50 cents a share and 92.70c during the period, up from 52c compared to last year.
African Phoenix Investments was previously known as African Bank Investments, but changed the name in February 2017 after its divestment from the banking sector.
In last year's results, the group reported a decline of 76 percent in profit after tax of R46 million, down from R186m compared to a prior year.