{"id":4991,"date":"2021-02-22T20:10:49","date_gmt":"2021-02-22T20:10:49","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=4991"},"modified":"2021-02-22T17:17:06","modified_gmt":"2021-02-22T17:17:06","slug":"stellar-capital-partners-cut-half-year-loss-by-30-to-r12-07m","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/stellar-capital-partners-cut-half-year-loss-by-30-to-r12-07m","title":{"rendered":"Stellar Capital Partners cut half-year loss by 30% to R12.07m"},"content":{"rendered":"

Africa-Press<\/a> – South-Africa<\/a>. <\/strong><\/span>DURBAN – STELLAR Capital Partners reduced their half-year loss by 30 percent to R12.07 million for the six months to the end of December from R17.14m last year on Prescient Holdings\u2019 ability to withstand the impact of Covid-19 outbreak on its operations.<\/p>\n

The group said Prescient has so far been able to withstand the impact of Covid-19 and the lockdown on the economy.<\/p>\n

\u201cAs at the end of December, assets under management have grown to R101 billion and assets under administration have grown to R506.1bn,\u201d the group said. \u201cThe Prescient Group continues to expand its international businesses in Britain, Ireland and China, and has partnered with Reinet to accelerate its growth into new markets in Asia.\u201d<\/p>\n

The group\u2019s gross loss from investments improved 53 percent to a loss of R2.03m from R4.34m. Its headline loss was reduced by 10 percent to a loss of 1.47 cents a share compared with a headline loss of 1.64c a year earlier.<\/p>\n

Its net asset value per share increased 7 percent to 129c compared with 121c reported last year.<\/p>\n

The group did not declare an interim dividend.<\/p>\n

Stellar Capital holds an effective investment of 19.4 percent in Prescient Holdings. The group has also invested in AHI Asset Management, Sithega<\/p>\n

Fund, Praxis, Greenpoint Capital (GPC), Inyosi Solutions and Tellumat.<\/p>\n

The group said its private debt manager, Greenpoint Capital, performed reasonably well, but the impairment provision in the Greenpoint Special Opportunities Fund was not able to fully absorb losses, resulting in a slight decrease in this fund\u2019s fair value.<\/p>\n

\u201cAs the appointed manager of the Greenpoint funds, GPC was able to significantly grow the credit portfolios during the period under review.<\/p>\n

\u201cGrowth of the funds remains a priority so as to not only diversify risk but to improve the sustainability of the manager.<\/p>\n

\u201cGPC Investments invests balance sheet capital into its own funds to demonstrate its commitment to its credit decision-making process and to its fund investors,\u201d the group said.<\/p>\n

Stellar Capital has invested R125.9m in both funds, held indirectly through AHI Asset Management, at the end of December.<\/p>\n

The Stellar board is engaged in different strategic objectives that include addressing the empowerment status of the company, evaluating Stellar\u2019s listing, the optimal deployment of available cash resources and appropriate levels of gearing, and narrowing the discount between the NAV per share and the share price of the company.<\/p>\n

The group said the Covid-19 pandemic would continue to have a fundamental impact on the world and business in general.<\/p>\n

Stellar Capital Partners shares rose4.48 percent to close at R0.70 on the JSE on Friday.<\/p>\n

[email protected]<\/p>\n

BUSINESS REPORT<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. DURBAN – STELLAR Capital Partners reduced their half-year loss by 30 percent to R12.07 million for the six months to the end of December from R17.14m last year on Prescient Holdings\u2019 ability to withstand the impact of Covid-19 outbreak on its operations. The group said Prescient has so far been able to […]<\/p>\n","protected":false},"author":84,"featured_media":4990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,315,275],"class_list":["post-4991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nStellar Capital Partners cut half-year loss by 30% to R12.07m - South Africa<\/title>\n<meta name=\"description\" content=\"DURBAN - STELLAR Capital Partners reduced their half-year loss by 30 percent to R12.07 million for the six months to the ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/stellar-capital-partners-cut-half-year-loss-by-30-to-r12-07m\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stellar Capital Partners cut half-year loss by 30% to R12.07m\" \/>\n<meta property=\"og:description\" content=\"DURBAN - 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