Business Partners is a specialist investment company providing customised and integrated investments, mentorship and property management services for small and medium enterprises (SMEs) mainly in South Africa.
Business Partners LIMITED (BUSINESS PARTNERS)
Business Partners has a March year-end and therefore its results for the 12 months to 31 March 2016 have been equity accounted in Remgro’s results for the year under review. Headline earnings attributable to Remgro for the year under review amounted to R48 million (2015: R47 million).
Business Partners’ headline earnings for the 12 months ended 31 March 2016 amounted to R113 million (2015: R111 million), an increase of 2%. The increase is mainly due to higher interest income and property revenue, which was largely off-set by lower investment income and higher finance and deferred tax charges.
During the year under review, funding for 307 (2015: 278) investment projects amounting to R966 million (2015: R713 million) was disbursed, while the risk in the investment portfolio has increased as non-performing loans increased from 10.9% of the portfolio at 31 March 2015 to 13.3% at 31 March 2016.