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• Woolworths reported solid numbers that seemed to be in line with market expectations.
• Shoprite has blown competitors away with exceptional growth across the LSM curve.
• Liberty Two Degrees is only a happy story if you’re a recent investor, giving us another excellent example of why buying the “hype” sector (in this case property on the JSE in 2015 – 2017) is so dangerous.
• Spur is buying a 60% stake in Doppio Zero, a restaurant group that has grown spectacularly over the past two decades.
• AVI is proof that consumers will cut back on many things, but not on biscuits and snacks.
• British American Tobacco is still growing profits, albeit very slowly.
• Anglo American shows just how quickly a mining cycle can change, with a 55% drop in HEPS.
• ArcelorMittal is the ultimate basket of risks: single-commodity exposure, high operating leverage and plenty of debt as well!

Listen to the podcast below: