Tag:
Gemfields
Ghost Bites
Ghost Bites (Altron | Blu Label | Gemfields | Jubilee Metals | Mondi | Sirius | Tharisa | Vunani)
Mondi had a truly awful day. Blu Label released financial targets for Cell C. Altron flagged solid growth in earnings and Sirius also released a financial update. Gemfields just cannot catch a break. Vunani is merging its fund management business with Sentio. Tharisa has won in court against SARS. Jubilee Metals gave an update on its portfolio and SA disposal.
Ghost Bites
Ghost Bites (Africa Bitcoin Corporation | Finbond | Gemfields | Heriot REIT | Prosus – Naspers | Texton)
Prosus is acquiring La Centrale in France, marking OLX's entry into Western European classifieds. Gemfields will be more cautious going forwards. Finbond announced an interesting deal. Heriot and Texton released numbers in the property sector. Africa Bitcoin Corporation is raising capital for ACOF as well now.
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 (Burstone | Gemfields | Grand Parade | Remgro)
Remgro's NAV grew solidly this year and they insist on a special dividend instead of more buybacks. Burstone's platform strategy is growing, but perhaps not quickly enough. Gemfields needs things to improve rather urgently. Grand Parade's casino exposure is problematic.
Ghost Bites
Ghost Bites (Accelerate Property Fund | Ascendis Health | Caxton & CTP | Gemfields | Schroder Real Estate)
Caxton achieved strong profit growth despite tepid newspaper conditions. Ascendis Health is thinking of delisting. Gemfields held its first emerald auction this year. Accelerate Property Fund sold a building. Schroder Real Estate's dividend could be at risk.
Ghost Bites
Ghost Bites (Bell Equipment | Bidvest | Blue Label | Brimstone | CA Sales | RCL Foods | Santam | Sea Harvest | Sun...
CA Sales, RCL Foods, Santam and Sea Harvest all released solid numbers. Bidvest, Bell Equipment and Brimstone are struggling to various degrees. Sun International posted a resilient set of numbers. Blue Label has given more details on the Cell C restructure.
DealMakers
Who’s doing what this week in the South African M&A space?
Weekly summary of Merger & Acquisition activity by South African companies
Ghost Bites
Ghost Bites (Gemfields | Impala Platinum | Italtile | MTN Uganda | Powerfleet | Rainbow Chicken)
Rainbow Chicken's HEPS has jumped sharply, while Impala Platinum's earnings have plummeted and Italtile has come in pretty flat. MTN Uganda remains a star in Africa. Gemfields found a buyer for Faberge. Powerfleet's numbers are still very messy due to acquisitions.
