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20 January 2020
Hello Voornaam,

December's rolling blackouts may have overshadowed record Black Friday sales for the country's retailers. Mr Price and The Foschini Group both reported good sales around the US Thanksgiving Day holiday but warned of weaker conditions in December due to the pre-emptive November buying and stage 6 load shedding last month. Mr Price fell on the back of its update and, after an initial rise in response to its sales numbers, TFG's shares also declined.

Richemont was also out with numbers on Friday and the market appeared to like them, sending its shares higher. However, after last year's third-quarter sales were curtailed by street protests in Paris, this year it was Hong Kong that held it back.

Meanwhile, it's fitting that Gemfields, the company that mines coloured gemstones including rubies and emeralds, plans to list on the London Stock Exchange's AIM on Valentine's Day. Perhaps part of a marketing campaign to buy that special person a great big ruby?

More on those stories in today's newsletter, along with Life Healthcare's search for a new head after its CEO decided to emigrate to Australia and how Delta Property Fund is taking measures to reduce debt.

Ingham Analytics' latest research note on Sasol explains why it's likely to muddle along for the short term as it gets its Lake Charles project in the US up and running. You can get access to the report by following this link.

Finally, crowdfunding offers an alternative funding source for property developers who have difficulty accessing traditional funding sources and don't have access to an international investor network. Click here to find out how you can participate in Uprise Africa's development crowdfunding opportunity.

I hope have a great week.

Stephen Gunnion

Managing Editor, InceConnect


Todays Latest Headlines

Record Black Friday sales for TFG
The retailer says its SA and Australian operations held up well, while UK sales continued to be impacted by Brexit uncertainty.
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Mr Price disappoints with sales growth
Following strong November sales thanks to Black Friday, December sales were affected by load shedding and bad weather.
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Richemont grows sales despite Hong Kong protests
Stronger sales in Europe, the US, China and Korea more than compensated from a marked contraction in Hong Kong.
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Ingham Analytics issues a note on Sasol. The note is titled "Here's why Sasol is likely to bump along at decade lows".
Ingham Analytics say Sasol has a new CEO and the interim results to be released on his watch on or around 24 February will be weak.
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Life Healthcare CEO quits for Australia
Chief financial officer Pieter van der Westhuizen has been made acting CEO while the private hospital group searches for a successor.
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Your family's road travel security secured
We live in an uncertain world and face many perils every time we climb into a vehicle to travel.
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