May 15, 2019 / 6:26 AM / in 5 days

South Africa's Long4Life reports annual profit, suspends dividend

JOHANNESBURG, May 15 (Reuters) - South African investment firm Long4Life on Wednesday suspended its dividend citing money spent on share repurchases and reported an annual trading profit of 454.2 million rand ($31.91 million).

“In arriving at this decision, the board has taken into consideration the 159.6 million rand spent on share repurchases and the prospects for further investments,” it said in a statement.

Long4Life, whose strategy is focused on investment in the leisure and lifestyle sectors, was founded in 2017 and listed on the Johannesburg Stock Exchange that year.

$1 = 14.2317 rand Reporting by Nqobile Dludla; editing by Jason Neely

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