18 December 2023 · Corporate Update

Annual review: Board approves 2024 operational investment framework from Cyprus HQ

Kashmir Limited’s Board of Directors has concluded its annual strategic review at the company’s Larnaca headquarters and approved the operational investment framework for the 2024 financial year. The review, conducted over two days of Board meetings in Cyprus, assessed the performance of all group companies, evaluated market conditions across operating jurisdictions, and established investment priorities for the year ahead.

The Board noted strong performance across the portfolio in 2023, with Altenberg continuing to outperform the independent publishing sector and the newly established Lisbon hospitality operations achieving promising early results. The combined portfolio generated healthy returns on invested capital, supporting the Board’s thesis that active, operationally-focused investment management in mid-market sectors can deliver superior risk-adjusted returns.

Key priorities approved for 2024 include expanding Altenberg’s creator partnerships and author roster, launching the ALT.PL distribution subsidiary as a standalone operation, continuing investment in the Lisbon hospitality portfolio including property maintenance and licensing renewals, commencing preliminary market research for publishing expansion into the German-language market, and establishing media services capabilities within the group.

The Board also approved the engagement of new professional advisors to support the group’s growing cross-border operations, including additional legal counsel in Poland and Portugal and expanded audit scope to reflect the group’s increasing operational complexity.

“2023 was a year of strong execution and portfolio diversification,” the Board concluded. “The 2024 framework positions Kashmir for continued growth while maintaining the disciplined operational investment and active governance that define our approach to investment management.”