Local company news:
Raubex is celebrating 50 years in business and doing it in style, with results for the year ended February 2024 that look fantastic on almost every metric. Perhaps best of all, the order book has increased significantly as well, giving support to the new financial year.
Another business doing well is WeBuyCars, which is really sweating those car supermarket assets. Off a modest increase in inventory value, they managed to grow revenue and profits substantially.
Calgro M3 has declared a maiden dividend, which is something that shareholders have asked about for a while. They also did a very good job of turning water into wine, with profits up despite pressure on revenue. If you want to engage directly with the management team, then get the next Unlock the Stock in your diaries nice and early. Scheduled for 23rd May, you can register for free here>>>
Stor-Age has landed a management contract in the UK, as part of the strategy to boost ROE by managing assets on behalf of third parties.
Of course, we can't ignore what's going on at the top end of the market, with BHP sweetening its proposal to Anglo American with a more favourable exchange ratio i.e. more BHP shares per Anglo American share. The Anglo board was still having none of it.
Over at Vodacom, life is tough. They seem to have copied MTN's homework in terms of jumping with both feet into African territories with volatile currencies. Egypt is a big part of the story these days and that creates risk.
Finally, Insimbi Industrial Holdings released a cautionary announcement regarding a potential transaction and Mantengu Mining announced the acquisition of Birca Copper and Metals.
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