Shares in South African investment firm Long4Life leapt 5 percent last week as the company posted better-than-expected sales for fiscal 2018 – it’s first full-year report since it listed on the South African stock exchange in 2017, according to a report published by Reuters.
The company reported sales of ZAR3.6 billion, well above analyst estimates of ZAR3.3 billion. The personal care and wellness division was one of the top performers, with revenue up 19 percent compared to the prior year period.
The company has launched a new luxury beauty outlet, Sorbet SK-N, part of its Sorbet salon chain, the first store opened in Johannesburg’s Hyde Park Corner Shopping Center earlier this month.
“With the changing demographics of people’s ages, more and more people are looking to improve their wellbeing,” Long4Life CEO Brian Joffe told investors, per Reuters.