Virgin Active is pumping, boet

Good Morning Voornaam,

Popular podcast Ghost Wrap has a new episode, covering eight company updates in as many minutes. Brought to you by Mazars, this is the stuff you really need to know about Murray & Roberts, Aspen, Cashbuild, Caxton & CTP, Investec Property Fund, Woolworths, MultiChoice and Sasfin. Enjoy it here>>>

Where did all the boets go?

I lived in Fourways for a while, so you'll have to forgive my boet references. I find this particular segment of humanity highly entertaining, though I don't hold shares in Brait as the owner of Virgin Active. After a 6.2% rally on Friday, I'm jealous of those who do! Those are gains that even the training-for-H2O-brotherrrrr crowd would be proud of.

It appears as though some of the boets never returned after the pandemic, along with other gym users who range from swimming enthusiasts to spinning class athletes and people who are lying to themselves about their Discovery Vitality Status ambitions. Virgin Active's membership base has reached 86% of 2019 levels. When you consider the operating leverage in the business (think of the fixed costs of a gym), that's still a significant knock to profitability.

I don't think Brait's rally had anything to do with Virgin Active. It was most likely driven by the news that the Premier IPO could be back on the table after Brait was approached by a group of interested investors.

For those details, along with the latest on African Media Entertainment, MTN, Premier Fishing and Brands as well as Sun International, read Ghost Bites here>>>

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Learn about private debt in the UK

In the latest Magic Markets episode, the team from Westbrooke Alternativ e Asset Management in the UK joined us to talk about private debt in the current environment and especially the impact on real estate investments. This is a great resource for anyone who wants to understand more about property investing and deal structuring. Find it here>>>

Have a great Monday!

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