Grindrod – Trading Update
Key message: Strong performance continues from Port of Maputo. Volumes should maintain into FY24 with expansion due from FY26.
Auto Anemometer: New Vehicle Sales – June 2024
Key message: Passenger sales remain weak with 2024 set to be a tough year for the car market.
Nampak – 1H FY24 Results
Key message: Remarkable result with operational improvement well ahead of expectations and the asset sale process nearing finalisation.
KAP – Trading Statement
Key message: Polymer margins continue to weaken, but growth seen in rest of divisions. Debt levels remain comfortably within covenants.
Invicta Holdings – FY24 Results
Key message: Good defensive qualities and offshore exposure should help Invicta maintain earnings in a tough environment.
PPC – FY24 Results
Key message: A resumption of dividend payments is a positive with cement demand at a cyclical low. New management is making changes.
Motus Holdings – Capital Markets Day
Key message: Motus highlighted the Mobility Solutions division where interesting innovative initiatives are proving successful. The diversification away from the new car sales cycle continues.
Omnia – FY24 Results
Key message: A relatively normalised result after as the commodity cycle settles. A special dividend increased the yield to over 12%.
Raubex – Bauba Site Visit
Key message: Bauba is a relatively low-risk operation with competitive reserves.
Afrimat – Investor Day
Key message: The Lafarge integration is going well with a focus on returning production to normal levels.