Ghost Wrap #29 (PPC | Sephaku Holdings | Naspers + Prosus | Spar | Alexander Forbes | Glencore | MultiChoice | Telkom)
Unlock the Stock: Afrimat and Spear REIT
Afrimat’s track record is spectacular. Spear REIT is a highly respected property fund. On Unlock the Stock, you can learn about both companies.
RCL is far more than just a chicken business
RCL is far more than just a chicken business these days, which isn’t a bad thing.
Bidvest: strong trading profit growth in every division
Bidvest closed 3.8% higher after releasing results for the six months to December 2021.
Liberty Two Degrees: reversions continue to bite
Liberty Two Degrees holds stakes in some of the most iconic properties in the country
Alviva: 20% revenue growth excl. Tarsus
After teasing the market with a trading statement, Alviva has now released all the details of the interim results for the six months ended December 2021.
PSG Group and the Great Value Unlock
This is one of the biggest news stories on the JSE that we’ve seen in a while
JSE Limited: a cash cow in a shrinking field
You may not be aware of this, but the JSE Limited is listed on the JSE. You’re right in thinking that this sounds like the financial version of the movie Inception
Capital Appreciation on the deal train
The company has announced the acquisitions of three technology companies in South Africa and a 20% stake in a company in the Netherlands.
Woolworths won’t miss 2021
as released results for the 26 weeks to 26 December 2021. The share price rallied 6% despite a fair share of negative commentary on Twitter.
Cashbuild’s negative sales momentum continues
Cashbuild released its interim results for the six months ended 26 December 2021
Welcome to Ghost Wrap. It’s fast. It’s fun. It’s informative.
In this week’s episode of Ghost Wrap, we cover these important stories on the local market:
- PPC and Sephaku Holdings aren’t just good reminders of how tough the cement industry is, but also how poorly South Africa is trailing African peers when it comes to investing in growth and infrastructure.
- Trading statements from Naspers and Prosus demonstrate the extent of the value destruction by this management team, with portfolio write-downs as internet valuations have come off since the stimulus-driven cycle.
- With significant operational challenges at Spar at exactly the wrong time, the group’s dividend is gone and SAP issues desperately need to be resolved.
- Alexander Forbes has been an unlikely hero on the JSE since the pandemic, showing the value of proper execution of a solid strategy.
- Glencore is still trying to do a deal with Teck Resources in Canada, while casually doing a deal to sell Viterra in exchange for 15% in Bunge Limited and $1 billion in cash.
- As predicted, MultiChoice has seen a significant drop performance in South Africa and needs to invest heavily in its business, so the MultiChoice dividend is now a thing of the past.
- When it comes to cash flow pressures though, Telkom takes the cake as it fights to stay relevant in response to rapid change in consumer preferences.
The Ghost Wrap podcast is proudly brought to you by Mazars, a leading international audit, tax and advisory firm with a national footprint within South Africa. Visit the Mazars website for more information.
Listen to the podcast below:
