Welcome to Ghost Wrap. It’s fast. It’s fun. It’s informative.
In this week’s episode of Ghost Wrap, we cover:
- Capitec is growing its HEPS in the mid-teens, but that valuation multiple is looking far too frothy.
- Standard Bank and Nedbank posted great results for 2022, with the credit loss ratio under control and return on equity increasing – but what will load shedding mean for 2023?
- Fuel cost pressures have ruined profitability at fishing businesses I&J (part of AVI) and Sea Harvest Group, with the latter investing further into abalone and oysters as part of its strategy to focus on higher value seafoods.
- Bidvest has posted excellent results, with top-line growth and margins maintained despite inflationary pressures.
- Shoprite is resonating across the LSM curve, posting exceptional revenue growth that was severely blunted for investors by the cost of running generators.
- STADIO gave the market something to worry about by reporting a slowdown in student growth and relatively modest HEPS growth vs. the high P/E multiple.
- Renergen shareholders seem to have finally realised that a junior mining business needs capital, with a sell-off this year that has seen the share price fall 55% from its 52-week high.
The Ghost Wrap podcast is proudly brought to you by Mazars, a leading international audit, tax and advisory firm with a national footprint within South Africa. Visit the Mazars website for more information.
Listen to the podcast below:
