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Gold fields

Goldfields announced at the end of August that they are going to retrench another 1 560 people at their South Deep mine. South Deep employs 3 614 full-time employees and 1 940 contractors. South Deep is their only SA mine left, they bought this mine in 2006 and ever since then the mine hasn’t been profitable and has eaten R32 billion so far. Their latest financial results for the six months ending in June 2018 reported a strong financial position,…

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Impala Platinum

Impala is one of the world’s largest platinum group metal producers, however they are still struggling to awake investors appetite. IF the Rand continues to weaken and the platinum price can lift its head above $1000, this company might just surprise everyone.  Their annual financial results for 2018 reported a gross profit improvement by R2.1 billion to R1.6 billion. Earnings were impacted by impairments of R13.6 billion, mainly due to the restructuring of Impala Rustenburg. Tonnes milled rose 5.6% and…

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Astec Industries

Astec designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. They manufacture more than 220 products. Their latest interim results for the six months ending June 2018 reported a 9.7% decrease in net sales and they reported a loss for their second quarter. The weekly graph implies: The share is nicely oversold and the first sign of strength will be…

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Discovery

Discovery is a financial services group company. They are known as the company who makes people healthier as they reward a healthy lifestyle so that individuals can benefit from their medical aid, investments, insurance and retirement portfolio’s. Their interim results for the 6 months ending December 2017 reported a 19% rise in profit from operations for the group. Discovery health reported a 12% rise in operating profit and Discovery card business revenue increased by 7%. The target of the falling…

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South 32

South 32, a well-diversified mining and metals company is listed in South Africa, London and Australia. Their latest quarterly report reported a better cash position. The company also managed to buy back 176m of their own shares. Their Brazil Alumina sales decreased by 1% for the nine months ending March 2018. The SA coal production decreased by 6%, while export sales increased by 11%. The price earnings ratio of the share is 12 and the dividend yield of the share…

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Mr Price

Mr Price Group is a publicly traded retail company with brands like Mr Price Clothing, Mr Price home and Mr Price Sport. Their group results for the year ending March 2018 reported an 8% rise in total revenue. They also reported a 21.1% rise in diluted headline earnings per share. The opened 57 new stores for the year and they had a total of 1 258 corporate owned stores at year end.   The 20 & 40 day moving averages…

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PSG

PSG the independent financial services group has PSG Wealth, PSG Asset management and PSG Insure under their umbrella. They have more than 200 offices in SA, 2 in Namibia and 1 in Mauritius. Their latest financial results for the year ending February 2018 reported a 7% rise in recurring earnings and their dividend for the year has risen by 11% to R4-15 per share. Their dividend yield is standing on 1.83%. The share has reached the top part of the…

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Grindrod

Grindrod has unbundled their shipping business into a separate listing, with the main listing of the shipping business on the Nasdaq in the US and the secondary listing on the JSE. On the 19th of June the company made the following announcement: “Shareholders are advised that total earnings per share for the six months ending 30 June 2018 is expected to be positive (an increase of more than 100%). The prior year comparative period, being the six months that ended…

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Steinhoff

Steinhoff continues to make news headlines with the amount of irregularities and fraudulent activities. Earlier this week it was reported that Steinhoff bought forest plantations in 2001 that were linked to executives and sold them three years later to the retailer for more than five times their original value. The forestry deal is similar to car dealership transactions Steinhoff carried out in 2007 where it bought properties from companies linked to Markus Jooste at a multiple of their initial value.…

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MTN

MTN is the second largest telecommunications company in South Africa according to market capitalization. The quarterly update (March 2018) for the group reported a 1.9% increase in subscribers on a quarter-on-quarter basis. Active mobile customers increased by 3.9% to 22.7 million subscribers. MTN South Africa increased service revenue by 2.5% and MTN Nigeria increased service revenue by 14.4%. Line A (R107-90) which has kept the momentum to the bottom in place since May 2018 has changed into a support which…

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