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- Calgro M3* (JSE code: CGR) results a horror. Sure some is due to the new IFRS, but a lot else hurting them right now and I am selling my last remaining shares having sold the bulk in December 2015 at over 2000c.
- Santova* (JSE code: SNV) results show stronger Rand hurting, but also very tough trading condition locally. I am not selling here.
- Horror update from Shoprite* (JSE code: SHP). Some due to negative inflation on products, they say “11,607 items in September remaining cheaper than they were a year ago”. That hurts as costs rising. But they also had issues in their Gauteng distribution centre that made for stock issues in stores.
- Famous Brands* (JSE code: FBR) are a two part story. GBK in the UK remains an absolute mess and they’re trying to get reductions on leases, an I assume they tried to sell it and failed. Locally they doing alright considering very tough trading conditions. But that UK deal remains a disaster.
- Naspers (JSE code NPN) closed Tuesday at R2,370 and is now trading Wednesday up almost 8% at R2,555.00. This is in part thanks to Trump saying maybe they could be friends with China and that boosted Tencent. Also MSCI deciding to not make any major changes to index weighting’s with the plan being to reduce weight of stocks with low voting shares, such as Naspers share we trade on the JSE.
- Vivo (JSE code: VVO) trading update confirms that the Engen deal is done, albeit without the Democratic Republic of Congo assets. This expands them into eight new countries and adds 225 service stations. But Morocco remains an issue as we await the Kings announcement on regulating the fuel price. That are seeing margin pressure here and it is the biggest market for the company – so it’s important and while I like the business I want this sorted first.
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