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What a dissapointing year for L4L, not a single deal done, sub par results from past acquisitions and a share price which has fallen by about one third!
I invested in the company largely due to Brian Joffee's reputation as one of the finest businessmen and dealmakers in South Africa. L4L was going to make deals and deliver exceptional returns based on Brians ability to acquire good investments at a good price and to turn these acquisitions around into highly profitable ventures. All we have seen so far is very average performance from the acquisitions and no acquisitions this financial year at all. Lots of announcements, but largely about allocation of shares to directors and the resignation of key directors. Of the top three 'legends', one is left after eighteen months and no acquisitions this year!
I'm really dissapointed.
And so have a lot of investors. It took him 20+ years to build Bidvest so what can one expect after 1 year. If you bought because of reputation then I am afraid you will just have to be patient.