Long4Life trims sails, toys with delisting from the JSE

This has ensured that our businesses are strongly positioned to take advantage of more stable markets and economic activity, which lies ahead.”

Long4Life said it had recovered in the second six months of the financial year, with revenue for the six months to the end of February 2021 amounting to R2.162bn against R2.254bn in the comparable prior period.

Overall, the group said it had emerged relatively unscathed, and in certain respects more resilient and with more efficient employment of funds in its businesses.

During the year, the group acquired Direct Leisure Golf Distributors as a bolt-on acquisition in the sport and recreation division, as part of the group’s strategic expansion plans in lifestyle sectors.

Joffe said suitable acquisitions for the firm were limited.

He also said investor sentiment towards South Africa was the lowest in many years, with declines in the rating of domestic-facing JSE-listed securities.

Looking ahead, Long4Life said although it had anticipated that the possibility of disrupted operations and reduced consumer demand would persist for some time, there had been a strong rebound in the markets in which the group operated.

“Consumer trends are aligned to the group’s product and service offerings – sport, recreation, health, wellness, beauty and outdoor activity – and are more relevant and popular in a post-pandemic environment.

This bodes well for the group going forward,” it said. Long4Life shares closed 4.54 percent higher at R4.61 on the JSE yesterday.