Tag:
Clientele
Ghost Bites
Ghost Bites (Bidcorp | British American Tobacco | Burstone | Invicta | Momentum | Santova | Telkom)
Telkom is brimming with confidence, while Bidcorp and British American Tobacco are executing on their global business strategies. Invicta had a flat period, with Burstone also not giving investors much to get excited about. Santova is a good business in a tough environment. Momentum's capital markets day makes for good reading.
Ghost Bites
Ghost Bites (Equites Property Fund | KAL Group | Karooooo | NEPI Rockcastle | Reunert | Tharisa)
Equites Property Fund and NEPI Rockcastle are good reminders of the strength of REITs. KAL Group is one of the last "cheap" South African assets. Karooooo upset the market with its margins this year, but they are playing the long game. Reunert has been dragged down by its cables business. Tharisa's earnings have skyrocketed.
Ghost Bites
Ghost Bites (Clientèle | Glencore | Merafe | MTN | Santova)
Dividend darling Clientèle wants to delist. Glencore is telling a bullish story after Q1, with MTN Nigeria also enjoying the current oil situation. Merafe should have an answer on the electricity tariffs by June. Santova clawed back a lot of lost ground in the second half of the year.
DealMakers
Weekly corporate finance activity by SA exchange-listed companies
Weekly summary of corporate finance activity by South African exchange listed companies.
Ghost Bites
Ghost Bites (Bidvest | Clientèle | Italtile | JSE | Libstar | Merafe | MTN | RCL Foods | Thungela)
RCL Foods is navigating a bitter situation in sugar. Bidvest is building a hygiene giant. Italtile and Thungela are struggling, while the JSE and MTN are flying. Clientèle's business is showing encouraging signs. Merafe is kicking the can down the road.
Ghost Bites
Ghost Bites (Aveng | Clientèle | Gemfields | Mr Price | Nedbank | Octodec | Sasol | SPAR)
There are no easy wins at Sasol, but there are no wins whatsoever at SPAR. Mr Price is pushing ahead with the NKD deal, while Nedbank's NCBA deal in Kenya is making progress. Aveng has many contracts to try and resolve. Gemfields is still facing market pressure in rubies. Octodec has a tricky property portfolio to run. Finally, Clientèle's numbers are complex, but trending higher.
Ghost Bites
Ghost Bites (Altvest | AVI | Clientele | Metrofile | Sun International)
Altvest is going all-in on bitcoin. AVI's beverages business drove them forward. Sun International's casinos continue to struggle. Clientele's customer base is under pressure. Metrofile's margins went the wrong way.
Ghost Bites
Ghost Bites (ADvTECH | Clientele | Fairvest | Harmony | Hulamin | Italtile | Momentum | Sasol)
Fairvest's capital raise is a sign of frothiness creeping back into the property sector. ADvTECH, Clientele and Momentum released excellent numbers. Sasol's debt reduction and free cash flow got the market excited. Harmony didn't capitalise on gold price opportunities. Italtile posted resilient numbers, while Hulamin's performance was poor.
