Johann Rupert-controlled investment heavyweight Remgro, whose earnings were battered by government-imposed measures to contain the Covid-19 pandemic, says it is not yet clear if the recovery under way is sustainable.
“It has been bad. Overall, the consumer got hurt, and we are not sure how quickly things will recover,” says Remgro CEO Jannie Durand, who was describing the effect of the lockdown on businesses in the investment holding company’s portfolio in its latest earnings report.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.
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A battered Remgro unsure how sustainable recovery isInvestment holding company licks wounds post lockdown as annual headline earnings fall 61% It seems they are still in a far better position than those who have unpaid infectious disease business interruption insurance with the subsidiary of company in which they have significant shareholding’s through RMI.
Source: BDliveSA - 🏆 12. / 63 Read more »
A battered Remgro unsure how sustainable recovery isInvestment holding company licks wounds post lockdown as annual headline earnings fall 61% It seems they are still in a far better position than those who have unpaid infectious disease business interruption insurance with the subsidiary of company in which they have significant shareholding’s through RMI.
Source: BDliveSA - 🏆 12. / 63 Read more »