Brimstone Investment, a South African investment holding company, reported a 51% surge in headline earnings for the year ended December 31, 2024, as the company aggressively cut debt through asset disposals, though a hefty accounting loss tempered the overall picture.
During the year, the investment group continued to slash debt, with R516.8 million used to repay obligations. By year-end, the group’s long-term debt stood at R1.7 billion, down from R2.2bn the previous year.
In 2024, the group fully disposed of its investments in Milpark, STADIO, and Equites, and partially disposed of its stakes in Phuthuma Nathi and MTN Zakhele Futhi, generating a total consideration of R673.6m. This aligned with its stated objective to reduce debt through disposals.
The debt-reduction process remains ongoing, with the group on target to meet its…
