Morning Note – 23 May 2017
Rhodes Food Group Holdings Limited (RFG)
RFG released interim results for the six months ended 2 April 2017. Their turnover increased with 8.2%, Profit after tax increased with 14.6%, Headline earnings increased with 15.9%.
Coronation Fund Managers (CML)
Coronation published interim results for the six months ended 31 March 2017. Revenue decreased with 6% compared to the considered period in the prior year. Diluted HEPS decreased with 4%, Assets under management (AUM) decreased with 4% and dividend per share decreased with 4% (The dividend yield for the Company is therefore 7%).
Schroder European Real Estate Investment Trust PLC (SCD)
The company has completed the purchase of the Metromar shopping centre in Seville, Southern Spain. Seville is the capital of Andalucía and Spain’s fourth largest city.
Nedbank Group Ltd. (NED)
Nedbank closed at R214.37 after a major pullback from the high it made on the 17th of March – R269. The oscillator has just started to move out of oversold territory and this may be the signal for buyers who favour more upside. The first horizontal resistance comes in at R227. Should the bearish momentum continue next support can be found at R204.