Morning Note – 1 June 2018
GET TO KNOW YOUR JSE COMPANIES
Barloworld Ltd (BAW)
Barloworld recently reported their interim results for the six months ended 31 March 2018. Their revenue increased by 1%, total HEPS increased by 32% and they declared an interim dividend of 145 cents per share. Click here to download our equity report on the Company.
Alexander Forbes Group Holdings Ltd (AFH)
Alexander Forbes released a trading statement for the year ended 31 March 2018. Headline earnings per share are likely to decrease between 15% and 20% from R 683 million in the prior year.
Zeder Investments Limited (ZED)
Allan Gray has increased their stake in Zeder to 5% of the total number of securities in issue.
Pioneer Food Group Limited (PFG)
Coronation has increased their stake in Pioneer Foods to 5.15% of the total number of securities in issue.
Mr Price Group Limited (MRP)
Mr Price released their full year results for the year ended 31 March 2018. Total revenue grew by 8% to R21.3 billion and diluted headline earning per share increased by 21.1%. The board resolved to declare a final dividend of 414.1 cents per share which is 5.6% lower than the prior period.
Life Healthcare Group Limited (LHC)
Life Healthcare released their interim results for the six months ended 31 March 2018. Total revenue grew by 17.5% to R11.3 billion and diluted headline earning per share increased by 115.7%. The board resolved to declare an interim dividend of 38 cents per share which is 8.6% higher than the prior period.
- ZAR/USD : 12.70
- ZAR/GBP : 16.87
- ZAR/EUR : 14.83
Top 40 Moves
African Rainbow Minerals Ltd (ARI)
ARI recently found support at its 50-day moving average which is currently trading at R104.08. If this stock could continue with the short-term momentum it could test resistance at R139.49. Yesterday its share price increased by 2.83% to close the day at R109.86. On the downside, it could possibly test support at R92.49 followed by R70.35.
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