There were some significant moves on the JSE yesterday. Among the Top 100, Gold Fields put in a notable jump of 5.7% as my beleaguered gold shares finally start to see the light. The other move worth noting is Prosus and Naspers up 4.9% and 4.7% respectively, driven by solid momentum in the Tencent Holdings price. It feels as though investor sentiment may be improving towards China.
In highly encouraging news for the radio and media industry, African Media Entertainment (which owns the likes of Algoa FM and Moneyweb) has said that it is on a "road to recovery to pre-Covid 19 levels" - and the numbers certainly look like it. For the six months to September 2021, HEPS will be between 90 and 105 cents. For the same period in 2019, HEPS was 109 cents.
PPC jumped over 6.2% on the release of a tradi ng statement for the six months to September 2021. The business in the DRC has been recognised as a discontinued operation. HEPS from continuing operations will be between 52 and 57 cents and HEPS for the group (including the loss-making DRC operation) will be between 39 and 44 cents. The share price closed at R5.45.
Stellar Capital Partners is a company that really didn't live up to its name. With the delisting scheme of arrangement now approved, the company will delist on 30 November. Holders of around 3.34% of the company have elected to follow the s164 Appraisal Rights process. This is an expensive legal route available under the Companies Act that gives shareholders a way to fight for a better offer even when a scheme of arrangement is approved.
Residential REIT Indluplace suffered a decrease of 30.9% in its distributable earnings for the year ended September 2021. The dividend has now been finalised at 28.13 cents per share, a drop of 36.1% compared to the prior period.
Reunert is an industrial group with businesses in the electrical engineering, ICT and applied electronics segments. This means the company's products range from low-voltage circuit breakers through to high-precision electronics for defence and renewable energy applications. The company expects HEPS for the year ended September 2021 to be between 466.5 and 489.5 cents, a massive increase on last year's result of 115 cents but still well below the 573 cents achieved in 2019.
Before we get into the feature articles, I would like to invite you to listen to my podcast appearance on
Talking with Traders with Garth Mackenzie. It's a wonderful format that combines market discussions (like which business models I like investing in) with personal experience and a section on my own journey over the past 12 - 18 months as the Ghost. You can
listen to the show at this link.
Good luck in the markets!
The Finance Ghost
