Making sense of SENS
- Local GDP came in better then expected and importantly positive, so no technical recession. Manufacturing and mining were the strong sectors but we need a lot more very strong quarters to get out of the bad spot we find ourselves in and a down grade is still very much on the cards in December.
- Discovery (JSE code: DSY) has so many moving parts but for me the key is Vitality is now in 14 markets around the world. I remain a happy shareholder albeit they’ve done very little over the last year or so.
- We have a lot of shopping malls in South Africa, by some reports more per capita than any other country. Hyprop (JSE code: HYP) is by far the best of the bunch with regard local malls as they own high traffic top end malls.
- Mr Price (JSE code: MRP) seems to have lost the mantle. They have now had three reporting seasons over the last year and all disappointed. Is it just bad buying and the weather? I suspect they’re seriously struggling under the weight on new competition from the likes of H&M and Cotton On. This is a biggie and if I was a shareholder I would be looking to exit.
- Capitec (JSE code: CPI) trading update sees HEPS 17%-20% higher. Wth a historic PE of almost 22x a little light but well ahead of consensus that was looking for single digit growth.
- Tonight, going back to basics with wealth creation 101 at the JSE.
- The Fat Wallet Show did the follow up about buying a house vs. renting.
Stock Exchange News Service (SENS)
Some listed companies seem to use it as marketing (witness the Sibanye proudly announcing their inclusion into the Top40 later this month and CarTrack announcing 550k subscribers) while other publish the bare bones (Comiar and Master Drilling just giving numbers in previous years). Others like Steinhoff seem to have moved onto Europe forgotten about us and just push links through SENS.
I would also like to see a standard applied by the JSE. For example all results have to have the top four points (HEPS, Dividend, revenue & debt) right up front so you can’t hide.
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