Morning Note

Morning Note – 25 May 2017

SENS Summary

Tradehold Limited (TDH)
Tradehold published a summary of their audited results for the 12 Months to 28 February 2017. Their total assets grew by 213% compared to the prior year, Revenue is up 80%, core HEPS increased by 112% (despite an increase of almost 59 million in the number of shares in issue) and Net Asset Value (NAV) is 40% higher.
Hosken Consolidated Investments Limited (HCI)
​The Company released provisional results for the year ended 31 March 2017. EBITDA increased by 14.5%, HEPS is up by 38.1% and income increased by 9.7%.
Tiger Brands Limited (TBS)
​Tiger Brands released unaudited group results for the six months ended 31 March 2017. Group turnover is up 7% (This was mainly driven by pricing whilst overall volumes declined by 3%), Operating income is up 10%, HEPS is up 7% and the interim dividend will be 378 cents.

Current Forex

  • ZAR/USD : 12.90
  • ZAR/GBP : 16.76
  • ZAR/EUR : 14.49
    The Rand strengthened on the back of Inflation easing below the target band to 5.3% year-on-year in April. This is the lowest it’s been since December 2015. Another issue impacting the Rand is the media reports that the ruling African National Congress would discuss removing President Jacob Zuma at a weekend meeting.

    Mr Price Group Limited (MRP)

    The share closed at R149.90 and the pullback from R178 have now found support at R140. To the upside our first resistance level would be the 50 day MA (moving average) at R157.57 followed by R162.85 200 day MA (moving average). A failure of support at R140 could lead to a pullback to R125.64. The oscillator is trading close to overbought territory.

    Contact us:

    Schalk Louw

    Portfolio Manager

    Tel: +27 21 202 2715


    Kobus Viljoen

    Investment Analyst

    Tel: +27 21 204 4074

    Pieter-Jan van Niekerk

    Equity Analyst & Trader

    Tel: +27 21 202 2714

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