Morning Note – 9 October 2017

SENS Summary

PSG Group Limited (PSG)
PSG released a trading statement for the six-month period ended 31 August 2017. Their SOTP (sum of the parts) value per share increased by 8.4% to R261.05, compared to the R240.87 reported as at 28 February 2017. They expect to report a decrease in recurring HEPS of between 0.4% and 0.5%, a decrease in HEPS of between 22.4% and 23.5% and a decrease in EPS of between 18.4% and 19.6%.
 
Choppies Enterprises Limited (CHP)
Choppies published their results for the year ended 30 June 2017. Their revenue increased by 20%, gross profit increased by 30%, HEPS decreased by 8%, EBITDA increased by 15% and their dividend per share decreased by 42%.
 
Value Group Limited (VLE)
​Value Group released a trading update for the six months ended 31 August 2017. They expect to report a decrease in HEPS of between 50% and 70% (this period’s results is impacted by a once off BBBEE equity transaction of which the transaction costs affected their financials significantly). Excluding this transaction costs, they expect their adjusted HEPS to increase between 10% and 30%.
 

Current Forex

  • ZAR/USD : 13.72
  • ZAR/GBP : 17.99
  • ZAR/EUR : 16.11
     

    JSE Top 40 Moves

    Steinhoff International Holdings N.V (SNH)


    Steinhoff rallied 2.01% on Friday to close the week at R60.50. The share has found support around R59 with the oscillator starting to move out of oversold territory. R60.62 will be a key resistance level followed by the 50-day moving average at R63.64.


     
    Contact us:

    Schalk Louw

    Portfolio Manager

    Tel: +27 21 202 2715

    Schalk.Louw@psg.co.za

     

    Kobus Viljoen

    Investment Analyst

    Tel: +27 21 204 4074

    Kobus.Viljoen@psg.co.za

    Pieter-Jan van Niekerk

    Equity Analyst & Trader

    Tel: +27 21 202 2714

    PJ.vanniekerk@psg.co.za

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