Morning Note – 14 August 2018
Curro Holdings Limited (COH)
Curro released their results for the six months ended 30 June 2018. Revenue increased by 18% to R1 242m, EBITDA was 31% higher from R255m to R335m and headline earnings per share rose by 22% to 33.6 cents per share.
Santam Limited (SNT)
Santam released a trading statement for the six months ended 30 June 2018. Headline earnings per share will be between 1 000 cents per share and 1 040 cents per share. This will be between 69% and 75% higher than the comparative period in 2017.
Zeder Investment Limited (ZED)
Zeder notified shareholders that a subsidiary of the Company has entered into negotiations regarding a potential transaction.
Sappi Limited (SAP)
Sappi released their third quarter results for the period ended 30 June 2018. Earnings per share were marginally down from 11 USD cents to 10 USD cents and earnings before interest, tax, depreciation and amortisation was unchanged at $155m.
- ZAR/USD : 14.34
- ZAR/GBP : 18.31
- ZAR/EUR : 16.35
Top 40 Moves
African Rainbow Minerals Ltd (ARI)
ARI’s share price decreased by 0.09% yesterday to close the day at R122.50. The share price crossed above both of its 50-day and 200-day moving averages during July 2018 and is now trading close to extreme overbought territory. If the positive momentum should continue it could test resistance at R139.49. If a reversal takes place and it crosses below the moving averages it could test further support at R92.49.
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