Grindrod – 1H FY23 Results
Key message: Grindrod has a number of growth opportunities in ports, shipping and rail. While coal contributed well to recent periods, other commodities offer MT volume growth.
Italtile – FY23 Results
Key message: Weaker volumes as energy solutions replace home improvements amid lower general consumer spending. An expected improved operational performance in FY24 should recover market share.
Murray & Roberts – FY23 Results
Key message: The business should be able to earn HEPS of approx. 50c in FY25 with the current assets and a restructured financial structure. This indicates significant upside from current levels.
Bidvest – FY23 Results
Key message: Strong result driven by a recovery in travel and tourism boosted by renewable energy products. All divisions had double-digit trading profit growth.
Auto Anemometer: New Vehicle Sales – August 2023
Key message: Another strong month for light commercial sales, but passenger sales impacted by stressed business and consumer environment.
Motus Holdings – FY23 Results
Key message: Earnings expected to decline into FY24 as abnormally high margins dissipate as stock availability swings rapidly from under- to over-supply. Higher interest costs and tax rate will impact the bottom line.
KAP – FY23 Results
Key message: Domestic demand weakened significantly in 2H, forcing low margin exports. Debt reduction is a focus going forward.
Bidcorp – FY23 Results
Key message: Results well ahead of expectations as Bidcorp emerges from the Covid era in stronger shape and with more market share.
Super Group – FY23 Results
Key message: Continued robust results despite a weak economy – client wins and market share growth a feature. SG Fleet performing well.
Mpact – 1H FY23 Results
Key message: Price momentum carries Mpact through demand pressure, but MT investments provide growth opportunities.