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In this episode of Ghost Wrap, I looked at some of the more interesting stories in a busy few days of news.

• Bowler Metcalf is evidence of how share buybacks can turn financial water into wine.
• City Lodge was permanently damaged by the pandemic, but at least the company is profitable again.
• Shoprite’s astonishing performance was blunted by Eskom, which means share price performance is also well off where it should be.
• The Foschini Group’s trading update reflects the impact of pressure on like-for-like sales, a drop in gross margin and debt on the recent acquisition.
• Bidvest’s second half of the financial year was all about generating cash, which was helpful for the dividend payout ratio.
• AVI’s results look good provided you exclude I&J, which tells us something about the different segments in the group.