My case for Britam PLC 1.On page 119 Fy 2018 Britam suffered a massive unrealised loss of atleast 3billion from revaluation loss of their investment in equity group holdings and hf group.0f this shs.1.45 billion of the loss was attributable to decline in share price of equity
Page 160 of fy2018 Britam annual report.2.Things are now different,Britam investment in equity group has increased by at least 4.8billion assuming yesterday share price of shs.51.Hf group is on recovery mode under leadership of Robert Kibaara thus no need for further impairment
Of Britam 48.42% stake in housing finance group.The shs 4.8 billion gain will have to be treated as a gain in Britam profit and loss account which will have a massive impact onbritam earnings for year ended 31 December 2019.3.Britam book value per share as per half year results
Excluding non controlling interest is shs.10.57 bob.Current price of shs.8 bob is not even nearits book value per share which truly is a good entry price for Britam PLC 4.We should never forget private equity firm bought a stake in Britam at shs 15.85 per share.
From a stake of 14.3%,africInvest stake stood at 17.55% for year ended 31 December 20185.The latest Q3 ira report reveals premiums for long term insurance rose 11% and this same segment that Britam is a market leader@mihr thakar@joloo@nse-investors@herve gogo@britam plc
