Mpact – 1H FY23 Results
Key message: Price momentum carries Mpact through demand pressure, but MT investments provide growth opportunities.
Auto Anemometer: New Vehicle Sales – July 2023
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Mpact – Trading Update
Key message: No loadshedding surprises – Mpact’s manufacturing operations appear to be relatively resilient. Price increases are more than balancing general weak demand.
Eskom Loadshedding Monitor – 24 July 2023
Key message: Concerns over Koeberg increase – the chance of both units being offline at the same time is rising (unless regulatory deadlines are relaxed).
Cement Import Monitor – May 23
Key message: Imports seem to be stabilizing after falling 31% in CY22. The weak ZAR does not seem to be having an impact.
Eskom Loadshedding Monitor
Key message: High demand is causing loadshedding now, as opposed to a high level of outages.
PPC – FY23 Results
Key message: Price increases look to catch up to cost inflation in FY24, with steady dividends expected from Zimbabwe and Rwanda.
Reunert – Investor Day
Key message: Reunert is benefiting from an increase in capacity utilisation of its manufacturing divisions, and this should be margin accretive.
Bidcorp – Trading Update
Key message: Results continue to run well ahead of last year, but growth rates are now normalising. Food inflation remains high, but operating margins are increasing.
Hudaco – 1H FY23 Results
Key message: Continuing to find growth in a tough market – with capital allocation focused on growth sectors and share buybacks.