After nine years in the role, Mark Cutifani is retiring as Anglo American's Chief Executive. Duncan Wanblad has been announced as his replacement, an internal successor who started his career underground as a junior engineer. His bank balance is about to grow significantly.
Imperial Logistics announced that its acquisition of Deep Catch Namibia Holdings was implemented on 2nd November, as all conditions precedent have been fulfilled.
Mr Price has released a trading statement for the six months ended 2 October (that isn't a typo - retailers can have weird reporting periods). HEPS will be 30% to 40% higher than the comparable period, which naturally suffered from lockdown restrictions. If it wasn't for the looting in this period, HEPS would've been 40% to 50% higher. The group has received R181 million in insurance payments since the end of this reporting period and anticipates receiving further insurance payments.
Redefine jumped 7.6% on the news that it would resume paying dividends. Distributable income per share for the year ended August 2021 was 2.8% higher than the comparable year. The quantum of the dividend will be determined by the board on 5th November.
To the great relief of its shareholders, Grand Parade Investments has announced that its disposal of Burger King South Africa to private equity investor ECP Africa has become unconditional.
Industrials player enX Group has reported a strong return to profitability for the year ended August 2021. HEPS from continuing operations is 91 cents vs. a loss of 23 cents last year. The share price closed nearly 5% higher yesterday, taking its year-to-date climb to over 48%.
In case you haven't listened to it yet, Ep 49 of
Magic Markets saw us welcome Kate Mackenzie onto the show. Kate is a Bloomberg Green columnist and we took the opportunity to discuss tough questions around ESG. You can
listen to the show here.
Good luck in the markets today.
The Finance Ghost
